BCE (BCE) Rating Increased to Buy at Desjardins

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BCE (TSE:BCE) (NYSE:BCE) was upgraded by investment analysts at Desjardins from a “hold” rating to a “buy” rating in a research report issued on Thursday. The firm presently has a C$59.50 price objective on the stock, down from their prior price objective of C$60.75. Desjardins’ price objective would indicate a potential upside of 11.32% from the company’s previous close. Desjardins also issued estimates for BCE’s Q3 2018 earnings at $0.95 EPS, FY2018 earnings at $3.49 EPS and FY2019 earnings at $3.71 EPS.

A number of other analysts have also issued reports on the company. Morgan Stanley lowered their price target on BCE from C$62.00 to C$59.00 in a research note on Friday, August 31st. Royal Bank of Canada lowered their price target on BCE from C$61.00 to C$60.00 and set a “sector perform” rating on the stock in a research note on Friday, August 3rd. CIBC lowered their price target on BCE from C$59.00 to C$58.00 in a research note on Friday, August 3rd. Finally, TD Securities lowered their price target on BCE from C$58.00 to C$57.00 in a research note on Friday, August 3rd. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. BCE presently has a consensus rating of “Buy” and a consensus price target of C$58.96.

Shares of TSE:BCE opened at C$53.45 on Thursday. BCE has a 1 year low of C$50.72 and a 1 year high of C$62.90.

BCE (TSE:BCE) (NYSE:BCE) last issued its quarterly earnings results on Thursday, August 2nd. The company reported C$0.86 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of C$0.88 by C($0.02). The firm had revenue of C$5.79 billion during the quarter, compared to analyst estimates of C$5.83 billion. BCE had a return on equity of 20.55% and a net margin of 14.39%.

About BCE

BCE Inc, a telecommunications and media company, provides wireless, wireline, Internet, and television (TV) services to residential, business, and wholesale customers in Canada. The company operates through three segments: Bell Wireless, Bell Wireline, and Bell Media. The Bell Wireless segment offers integrated digital wireless voice and data communications products and services.

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Analyst Recommendations for BCE (TSE:BCE)

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