TELUS (NYSE:TU) (TSE:T) was upgraded by equities researchers at ValuEngine from a “hold” rating to a “buy” rating in a report issued on Thursday.
Other equities analysts also recently issued research reports about the stock. TD Securities raised shares of TELUS from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Morgan Stanley boosted their price target on shares of TELUS from $48.00 to $51.00 and gave the company an “equal weight” rating in a report on Friday, November 17th. Bank of America initiated coverage on shares of TELUS in a report on Tuesday, November 21st. They set a “neutral” rating and a $39.00 price target for the company. Royal Bank of Canada raised shares of TELUS from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $47.00 to $51.00 in a report on Friday, November 10th. Finally, Barclays upped their price objective on shares of TELUS from $41.00 to $42.00 and gave the stock an “overweight” rating in a report on Friday, November 10th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the stock. TELUS has a consensus rating of “Buy” and a consensus price target of $45.14.
Shares of TELUS (NYSE TU) traded down $0.05 on Thursday, hitting $36.05. 394,283 shares of the stock traded hands, compared to its average volume of 427,445. TELUS has a 52 week low of $31.28 and a 52 week high of $38.50. The firm has a market capitalization of $21,290.00, a P/E ratio of 18.78, a price-to-earnings-growth ratio of 2.13 and a beta of 0.89. The company has a current ratio of 0.56, a quick ratio of 0.48 and a debt-to-equity ratio of 1.48.
A number of hedge funds have recently bought and sold shares of TU. Mackenzie Financial Corp lifted its holdings in TELUS by 519.4% in the fourth quarter. Mackenzie Financial Corp now owns 26,707,398 shares of the Wireless communications provider’s stock worth $1,011,409,000 after purchasing an additional 22,395,739 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in TELUS by 13.3% in the fourth quarter. The Manufacturers Life Insurance Company now owns 12,515,810 shares of the Wireless communications provider’s stock worth $473,974,000 after purchasing an additional 1,466,319 shares during the period. CIBC Asset Management Inc lifted its holdings in TELUS by 11.0% in the third quarter. CIBC Asset Management Inc now owns 9,555,688 shares of the Wireless communications provider’s stock worth $342,797,000 after purchasing an additional 944,856 shares during the period. Picton Mahoney Asset Management acquired a new stake in TELUS in the fourth quarter worth about $37,032,000. Finally, Amundi Pioneer Asset Management Inc. acquired a new stake in TELUS in the fourth quarter worth about $24,307,000. 55.09% of the stock is owned by institutional investors and hedge funds.
ILLEGAL ACTIVITY WARNING: This news story was reported by Ticker Report and is the sole property of of Ticker Report. If you are accessing this news story on another publication, it was copied illegally and reposted in violation of international trademark and copyright laws. The legal version of this news story can be read at https://www.tickerreport.com/banking-finance/3231872/telus-tu-upgraded-to-buy-by-valuengine.html.
TELUS Company Profile
TELUS Corporation (TELUS) is a telecommunications company. The Company provides a range of telecommunications services and products, including wireless and wireline voice and data. Its data services include Internet protocol (IP), television (TV), hosting, managed information technology and cloud-based services, and certain healthcare solutions.
To view ValuEngine’s full report, visit ValuEngine’s official website.
Receive News & Ratings for TELUS Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TELUS and related companies with MarketBeat.com's FREE daily email newsletter.