The Globe and Mail reports in its Friday, Oct. 11, edition that RBC Dominion Securities analyst Drew McReynolds says he is heading into the third quarter earnings season for Canadian telecommunications companies, "awaiting more evidence of a trough." The Globe's David Leeder writes that Mr. McReynolds continues to rate BCE "sector perform," while trimming his share target by a loonie to $52. Analysts on average target the shares at $49.83. Mr. McReynolds says in a note: "[Last quarter] we believed the sector was poised for a bounce. ... 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 [average revenue per user] and network revenue growth for the Big Three and with what is likely to be a challenge for management teams in calling a trough ahead of the promotionally intense Black Friday/Cyber Monday and holiday periods in Q4/24."