TELUS (TSE:T) Cut to Neutral at Bank of America

TELUS (TSE:T) (NYSE:TU) was downgraded by Bank of America from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Friday,BayStreet.CA reports. They presently have a C$22.00 price target on the stock, down from their previous price target of C$24.00. Bank of America‘s target price suggests a potential upside of 10.06% from the company’s previous close.

T has been the topic of a number of other reports. Cormark lowered shares of TELUS from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, March 4th. National Bankshares reduced their target price on shares of TELUS from C$22.00 to C$21.00 and set a “sector perform” rating on the stock in a research report on Friday, January 3rd. National Bank Financial downgraded shares of TELUS from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 12th. TD Securities boosted their price target on shares of TELUS from C$24.00 to C$25.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Finally, Scotiabank lowered their target price on shares of TELUS from C$23.25 to C$22.50 and set a “sector perform” rating for the company in a research note on Wednesday, January 8th. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of C$22.91.

TELUS Price Performance

TSE:T opened at C$19.99 on Friday. TELUS has a 12 month low of C$19.10 and a 12 month high of C$23.43. The company’s 50-day moving average price is C$21.29 and its two-hundred day moving average price is C$21.50. The firm has a market cap of C$30.10 billion, a PE ratio of 32.43, a price-to-earnings-growth ratio of 1.65 and a beta of 0.72. The company has a quick ratio of 0.52, a current ratio of 0.69 and a debt-to-equity ratio of 183.41.

Insider Transactions at TELUS

In other TELUS news, Director Hazel Cynthia Claxton bought 1,845 shares of TELUS stock in a transaction that occurred on Thursday, February 20th. The stock was acquired at an average price of C$21.70 per share, for a total transaction of C$40,036.50. 0.02% of the stock is owned by insiders.

TELUS Company Profile

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.