The Globe and Mail reports in its Friday, Oct. 11, edition that RBC analyst Drew McReynolds has reaffirmed his "sector perform" recommendation for BCE. The Globe's David Leeder writes that Mr. McReynolds boosted his share target by a loonie to $53. Analysts on average target the shares at $49.83. Mr. McReynolds says he is heading into third quarter earnings season for Canadian telecommunications companies "awaiting more evidence of a trough." For investors, he thinks additional upside in the sector requires "more evidence that overall industry revenue growth is at or is close to, a year-over-year trough." Mr. McReynolds says in a note: "Last quarter heading into Q2/24 results, we believed the sector was poised for a bounce given the notable year-to-date underperformance. The sector did indeed bounce in Q3/24 (albeit modestly) driven by what we believe were a further easing of interest rate expectations and initial signs of a stabilization in wireless pricing. With a focus on evidence that overall industry revenue growth is at, or is close to, a year-over-year trough, unfortunately we are unconvinced such evidence will emerge with Q3/24 results generally showing further sequential deterioration in wireless ARPU."