TELUS (NYSE: TU)‘s stock had its “neutral” rating reiterated by Zacks in a note issued to investors on Monday. They currently have a $60.00 target price on the stock.
Zacks‘ analyst wrote, “We are maintaining our Neutral recommendation on Telus. First quarter earnings outperformed the Zacks Consensus Estimate and the year-ago earnings on strong data growth. We remain encouraged by Telus’ prospects in wireless data growth given new devices, technology upgrades, strong adoption of smartphones, deployment of HSPA+ Dual Cell technology and the recent launch of the 4G LTE network. On the Wireline side, the company’s continued investments to widen the footprint of its fiber optic network will boost profitability. Additionally, healthy balance sheet and robust dividend payouts make the stock attractive for the long term. Nevertheless, persistent erosion in access lines in the wireline segment and weak voice services in the wireless segment might weigh on future earnings. Further, a weak Canadian economy, an increasingly competitive domestic wireless market and reduced wireless data plans keep us on the sidelines.”
TELUS traded down 0.24% on Monday, hitting $57.25. TELUS has a 1-year low of $44.63 and a 1-year high of $58.97. The company has a market cap of $18.627 billion and a price-to-earnings ratio of 15.47.
TELUS Corporation (TELUS) is a Canada-based telecommunications company, providing a range of telecommunications products and services.
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