TELUS (TSE:T) Given New C$24.00 Price Target at CIBC

TELUS (TSE:T) (NYSE:TU) had its price target dropped by stock analysts at CIBC from C$25.00 to C$24.00 in a note issued to investors on Wednesday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. CIBC’s price target points to a potential upside of 20.36% from the company’s previous close.

A number of other equities research analysts have also issued reports on the company. Royal Bank of Canada cut their target price on TELUS from C$25.00 to C$24.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 18th. National Bank Financial downgraded TELUS from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 12th. Cormark decreased their target price on shares of TELUS from C$26.00 to C$25.00 in a report on Monday, November 11th. National Bankshares cut their price target on shares of TELUS from C$22.00 to C$21.00 and set a “sector perform” rating on the stock in a report on Friday, January 3rd. Finally, JPMorgan Chase & Co. dropped their price target on TELUS from C$23.00 to C$22.00 and set a “neutral” rating on the stock in a research report on Thursday, January 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of C$24.00.

TELUS Price Performance

TSE T opened at C$19.94 on Wednesday. TELUS has a 1 year low of C$19.10 and a 1 year high of C$24.92. The business’s fifty day moving average is C$20.95 and its two-hundred day moving average is C$21.64. The stock has a market capitalization of C$29.51 billion, a P/E ratio of 37.62, a P/E/G ratio of 1.65 and a beta of 0.72. The company has a debt-to-equity ratio of 171.58, a quick ratio of 0.52 and a current ratio of 0.66.

Insider Activity

In other news, Director Marc Parent acquired 19,100 shares of TELUS stock in a transaction dated Tuesday, December 10th. The stock was acquired at an average cost of C$22.04 per share, for a total transaction of C$420,964.00. Also, Director Victor George Dodig acquired 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were purchased at an average cost of C$21.38 per share, with a total value of C$2,138,000.00. 0.02% of the stock is owned by insiders.

About TELUS

TELUS Corporation, together with its subsidiaries, provides a range of telecommunications and information technology products and services in Canada. It operates through Technology Solutions and Digitally-Led Customer Experiences segments. The Technology Solutions segment offers a range of telecommunications products and services; network services; healthcare services; mobile technologies equipment; data services, such as internet protocol; television; hosting, managed information technology, and cloud-based services; software, data management, and data analytics-driven smart food-chain and consumer goods technologies; home and business security; healthcare software and technology solutions; and voice and other telecommunications services, as well as mobile and fixed voice and data telecommunications services and products.