The Globe and Mail reports in its Wednesday, April 2, edition that TD Cowen analyst Vince Valentini has reaffirmed his "buy" recommendation and $25 share target for Telus. The Globe's David Leeder writes in the Eye On Equities column that analysts on average target the shares at $22.18. Mr. Valentini says in a note: "Keep in mind that Q1 results will be concurrent with both the AGM and the expected new three-year target for annual dividend growth. We would not be shocked to see asset sale plans and debt reduction targets strongly reiterated on that day. Telus remains our top pick in the sector, especially with the balance sheet and capital allocation uncertainty overhanging two of its main peers." The Globe reported on Dec. 6 and Jan. 1 that Mr. Valentini continued to rate Telus "buy." It was then worth $22.25 and $21.08. The Globe reported on March 11 that Purpose Investments fund manager Craig Basinger was keen on Telus. The shares could then be had for $22.16. The Globe reported on March 24 that Bank of America cut Telus to "neutral" from "buy." The shares could then be had for $19.76.
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