The Globe and Mail reports in its Thursday, April 17, edition that Scotia Capital analyst Maher Yaghi has reaffirmed his "sector perform" recommendation for BCE. The Globe's David Leeder writes that Mr. Yaghi gave his share target a 50-cent trim to $39.50. Analysts on average target the shares at $34.77. Mr. Yaghi says in a note: "Bottom line, the dividend yield of 13 per cent on BCE shares vs the company's FCF yield of 8 per cent makes it unfeasible for the board not to take action to reduce the distribution ratio of the company. We believe a minimum division cut of 50 per cent is required, but a 55-per-cent cut would be better. We discussed this before in separate research, but we don't believe BCE has a FCF generation problem. Cutting the dividend, stopping the DRIP, immunizing the balance sheet from additional U.S. expansion capex and some asset sales would go a long way to making us more positive on the stock given current valuations. It is likely many of those catalysts could be announced come earnings. ... Tackling those issues should relieve significant pressure on the stock." The Globe reported on Feb. 7 that Mr. Yaghi had reaffirmed his "sector perform" call on BCE. It was then worth $31.62.