TELUS (TSE:T) Price Target Cut to C$24.00 by Analysts at CIBC

TELUS (TSE:T) (NYSE:TU) had its target price cut by equities research analysts at CIBC from C$25.00 to C$24.00 in a note issued to investors on Wednesday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. CIBC’s price objective points to a potential upside of 20.24% from the company’s current price.

T has been the topic of a number of other research reports. TD Securities decreased their target price on TELUS from C$26.00 to C$25.00 and set a “buy” rating on the stock in a research report on Tuesday, December 3rd. Royal Bank of Canada dropped their target price on shares of TELUS from C$25.00 to C$24.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 18th. National Bank Financial lowered shares of TELUS from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 12th. Scotiabank lowered their price objective on TELUS from C$23.25 to C$22.50 and set a “sector perform” rating on the stock in a report on Wednesday. Finally, JPMorgan Chase & Co. reduced their target price on TELUS from C$23.00 to C$22.00 and set a “neutral” rating for the company in a report on Thursday, January 2nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, TELUS currently has an average rating of “Hold” and a consensus price target of C$24.00.

TELUS Stock Performance

T traded down C$0.12 on Wednesday, reaching C$19.96. The stock had a trading volume of 1,737,818 shares, compared to its average volume of 3,124,913. The business’s 50-day moving average price is C$21.04 and its two-hundred day moving average price is C$21.66. The company has a market cap of C$29.54 billion, a P/E ratio of 37.66, a price-to-earnings-growth ratio of 1.65 and a beta of 0.72. TELUS has a 12-month low of C$19.10 and a 12-month high of C$24.92. The company has a current ratio of 0.66, a quick ratio of 0.52 and a debt-to-equity ratio of 171.58.

Insider Transactions at TELUS

In other news, Director Victor George Dodig bought 100,000 shares of TELUS stock in a transaction that occurred on Thursday, November 14th. The shares were purchased at an average price of C$21.38 per share, with a total value of C$2,138,000.00. Also, Director Marc Parent purchased 19,100 shares of the stock in a transaction on Tuesday, December 10th. The shares were purchased at an average price of C$22.04 per share, with a total value of C$420,964.00. Company insiders own 0.02% of the company’s stock.

About TELUS

TELUS Corporation, together with its subsidiaries, provides a range of telecommunications and information technology products and services in Canada. It operates through Technology Solutions and Digitally-Led Customer Experiences segments. The Technology Solutions segment offers a range of telecommunications products and services; network services; healthcare services; mobile technologies equipment; data services, such as internet protocol; television; hosting, managed information technology, and cloud-based services; software, data management, and data analytics-driven smart food-chain and consumer goods technologies; home and business security; healthcare software and technology solutions; and voice and other telecommunications services, as well as mobile and fixed voice and data telecommunications services and products.