Market News

TELUS Partners with IBM to Deliver 5G Across Canada

TELUS (T) announced is expanding its strategic relationship with IBM (IBM) to provide Canadian businesses with fast, secure, and reliable 5G solutions.  

5G and Edge Computing Services Across Canada 

The 5G edge computing platform will enable businesses across multiple industries to accelerate innovative solutions that deliver new value to their customers and operations.

TELUS’ 5G edge computing platform, deployed as a hybrid multi-cloud environment paired with IBM Cloud Satellite, extends open and secure cloud services to the network edge. This will help customers to improve business performance and customer experience, while meeting critical data security and sovereignty requirements. 

As a leading systems integrator for the global telecommunications industry, IBM Consulting will work with the Canadian telecom company to improve business workflows through AI and automation. 

Management Commentary 

TELUS CTO Ibrahim Gedeon said, “To unlock the true values and benefits of 5G and develop viable use cases, strategic partnerships must be formed between players in the ecosystem. With IBM, we are combining our award-winning 5G infrastructure with the flexibility of an edge computing platform that will harness the power of transformative technologies across multiple industries.

“Together, we are setting the stage for the rest of the ecosystem and partners to follow suit and adopt our approach to cloud computing, offering more scalability and agility to our customers with cost-effective and improved experience and connectivity.” 

Wall Street’s Take 

On November 8, Canaccord Genuity analyst Aravinda Galappatthige reiterated a Buy rating on the stock with a C$32 price target. This implies 6.6% upside potential.  

Overall, consensus on the Street is that Telus is a Strong Buy based on seven Buys. The average TELUS price target of C$34.14 implies an upside potential of 13.7% to current levels. 

TipRanks’ Smart Score   

TELUS scores a “Perfect 10” on TipRanks’ Smart Score rating system, indicating that the stock has strong potential to outperform the overall market.    

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