The Globe and Mail reports in its Thursday edition that National Bank Financial analyst Adam Shine has reaffirmed his "outperform" recommendation and $21 share target for Telus. The Globe's Darcy Keith writes in the Eye On Equities column that analysts on average target the shares at $21.44. Victor Dodig, former chief executive officer of CIBC, has been appointed CEO of Telus, replacing Darren Entwistle. This surprising leadership change is expected to signal a shift in the company's financial strategy, according to analysts. Mr. Shine says in a note, "We see how the dividend need not be cut, but the board at Telus would materially help its incoming CEO set a new path by cutting it sooner than later. Telus had said it will not increase its dividend and keep its quarterly payout at its current level until its share price "reflects growth prospects." The stock price, however, has continued to show little upward traction since the dividend hike pause was announced. Mr. Shine thinks Telus should cut its dividend by at least 30 per cent as well as eliminate its DRIP program after the first half of this year. Mr. Shine says a dividend or DRIP cut now would put Telus in a better spot to raise them in a year or two.