Telus Corp. (T:CA) (TU)
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Analyst Coverage Update
Analysts remain generally optimistic about Telus’ long-term prospects, with TD Securities (Analyst Rank #12 of 361) reaffirming their Buy rating on the stock and maintaining their 12 month target forecast of CAD 25 per share.
Analyst Ratings and Stock Target
Based on the Telus stock forecast from 13 analysts, the average analyst target price for Telus is CAD 23.89 over the next 12 months, suggesting a 19.51% upside potential from its current price. This indicates that analysts believe Telus could see a recovery and growth in the near term, driven by its strong fundamentals and ongoing investments in expanding its infrastructure.
Fundamental Analysis
Stock Target Advisor’s analysis, assigns a Slightly Bearish sentiment to Telus’ stock. This rating is based on 6 positive fundamentals and 11 negative fundamentals.
Despite these challenges, Telus continues to have a Strong Buy consensus from analysts. Analysts believe in the company’s ability to recover and perform well in the long run, especially with its focus on expanding its 5G network and healthcare technology solutions.
Recent Performance and Market Trends
Telus’ stock price has struggled in recent months, driven by broader market trends and some operational challenges. In the short term, there has been a general slowdown in telecom stock performances, with Telus experiencing a decline in its share price. However, this could also present a potential buying opportunity for investors, especially considering the stock’s 19.51% upside potential from its current price level.
Stock Performance: Over the past week, Telus’ stock has fallen by -7.15%. In the last month, the stock has declined by -9.91%, and over the last year, it has dropped by -8.13%.
Outlook
Telus’ stock is currently facing some headwinds, with its price showing a downward trend over the past week, month, and year. Despite these challenges, analysts maintain a Strong Buy consensus, and the CAD 23.89 target price suggests a 19.51% upside potential from its current trading price of CAD 19.99.
Investors looking for growth in the telecom sector should keep Telus on their radar, but they should be mindful of its Slightly Bearish sentiment from Stock Target Advisor. For those willing to take a slightly higher risk in the short term, Telus may present a buying opportunity based on its strong market position and long-term potential in the expanding 5G and digital health industries. However, investors should monitor any changes in market conditions, as volatility and external challenges could continue to impact the stock’s performance in the near future.
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