The Globe and Mail reports in its Friday edition that Canaccord Genuity analyst Aravinda Galappatthige is sticking with his "hold" call on BCE. The Globe's David Leeder writes in the Eye On Equities column that Mr. Galappatthige gave his share target a $4.50 trim to $33. Analysts on average target the shares at $40.46. Mr. Galappatthige says in note: "We have revisited our BCE model with a view to firming up our 2025 and also our 2026 estimates well ahead of Q4/24 reporting, which would feature 2025 guidance. In addition to adjustments to capex factoring in recent management comments, we have also made some revisions around the timing of M&A. In particular, our estimates now reflect the Ziply acquisition closing on Oct. 1 vs our prior expectation of earlier in Q3/25. All said, in terms of 2025, we expect to see flat adjusted EBITDA in 2025 (0.6-per-cent growth, reported and organic) but higher FCF year-over-year (10 per cent) due to the low base in 2024, which is impacted by an upswing in working capital use, severance payments, lower Canadian capex, partially offset by Ziply in Q4/25. In terms of adjusted EPS, we expect to see the familiar decline rate of 5 per cent in 2025, broadly similar to 2023A and 2024E."