The Globe and Mail reports in its Friday edition that RBC Dominion Securities analyst Drew McReynolds views BCE's sale of its 37.5-per-cent interest in Maple Leaf Sports & Entertainment to rival Rogers Communications as a logical outcome. The Globe's David Leeder writes in the Eye On Equities column that Mr. McReynolds sees this move as indicative of pro-active balance sheet management that has provided improved visibility on the delevering trajectory. Mr. McReynolds notes BCE is navigating a slower revenue environment. The $4.7-billion transaction was made, in part, to pay down debt. Mr. McReynolds is sticking with his "sector perform" call, while tweaking his share price ahead $2 to $53. Analysts on average target BCE shares at $50.46. Mr. McReynolds says in a note: "MLSE proceeds [were] higher than expected. Management indicated that net proceeds after tax are expected to be approximately $4.1-billion and will be directed toward debt repayment and supporting the company's ongoing transformation from telco to techco. ... Simplistically, net proceeds of $4.1-billion fully directed toward debt repayment would equate to $200-million in lower annualized cash interest costs (assuming a 5 per cent cost of debt)."