Canaccord Genuity Group Lowers BCE (TSE:BCE) Price Target to C$31.50

BCE (TSE:BCE) (NYSE:BCE) had its price objective lowered by research analysts at Canaccord Genuity Group from C$33.50 to C$31.50 in a research note issued on Monday,BayStreet.CA reports. The brokerage presently has a “hold” rating on the stock. Canaccord Genuity Group’s price objective would indicate a potential upside of 5.81% from the stock’s current price.

A number of other research analysts have also recently commented on the company. National Bankshares boosted their price target on BCE from C$35.00 to C$36.00 and gave the stock a “sector perform” rating in a report on Tuesday, March 11th. Scotiabank lowered their target price on shares of BCE from C$42.00 to C$40.00 and set a “sector perform” rating on the stock in a report on Friday, February 7th. Barclays cut shares of BCE from an “equal weight” rating to an “underperform” rating and cut their target price for the company from C$41.00 to C$30.00 in a research note on Thursday, January 30th. JPMorgan Chase & Co. reduced their price target on shares of BCE from C$29.00 to C$28.00 and set an “underweight” rating on the stock in a report on Thursday, April 3rd. Finally, Royal Bank of Canada dropped their price objective on shares of BCE from C$45.00 to C$41.00 and set a “sector perform” rating for the company in a report on Wednesday, December 18th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, BCE presently has a consensus rating of “Hold” and a consensus target price of C$39.18.

BCE Price Performance

TSE:BCE opened at C$29.77 on Monday. The stock has a market cap of C$26.97 billion, a PE ratio of 99.87, a P/E/G ratio of 4.67 and a beta of 0.48. The company has a quick ratio of 0.43, a current ratio of 0.62 and a debt-to-equity ratio of 226.73. The business’s 50-day simple moving average is C$33.47 and its two-hundred day simple moving average is C$37.04. BCE has a 52 week low of C$29.39 and a 52 week high of C$49.13.

BCE Company Profile

BCE is both a wireless and internet service provider, offering wireless, broadband, television, and landline phone services in Canada. It is one of the big three national wireless carriers, with its roughly 10 million customers constituting about 30% of the market. It is also the ILEC (incumbent local exchange carrierthe legacy telephone provider) throughout much of the eastern half of Canada, including in the most populous Canadian provincesOntario and Quebec.