In a report released on May 9, Tim Casey from BMO Capital maintained a Buy rating on Telus (TU – Research Report), with a price target of C$23.00.
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Tim Casey has given his Buy rating due to a combination of factors that highlight Telus’s strong financial performance and strategic initiatives. The company reported a revenue increase of 3% and a slight decrease in EBITDA, both of which surpassed market expectations. Additionally, Telus’s adjusted EPS exceeded consensus estimates, indicating robust financial health.
Moreover, the transparency and growth potential of the newly reported Telus Health segment, along with a private equity investment, suggest promising long-term monetization opportunities. Telus’s strategic focus on capital allocation, including debt reduction and dividend growth, further supports its financial stability. The company’s efforts in optimizing its portfolio and maintaining a disciplined approach to wireless pricing also contribute to the positive outlook, making it an attractive investment option.
Based on the recent corporate insider activity of 42 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of TU in relation to earlier this year.