TELUS Downgraded to Hold at Desjardins, Price Target Lowered
MT Newswires Live
Aug 05
TELUS Corp. (T.TO, TU) was downgraded to hold from buy at Desjardins on Wednesday.
Analyst Jerome Dubreuil lowered the price target to C$13.50 from C$19 a share for the telecom company.
"We acknowledge that we are not early to this trade" Dubreuil said in a note to clients. "However, the scale of the guidance reset means T's valuation premium to peers has barely moved despite the 11% share price decline on July 31."
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