BCE downgraded to Market Perform from Outperform at BMO Capital

BMO Capital downgraded BCE to Market Perform from Outperform with a price target of C$46, down from C$54. The analyst sees a slower growth outlook for the company based on competitive pressures in its core wireless and wireline operations, particularly in Quebec and challenging comps in media. While some of this is priced into the stock, BMO does not foresee a fundamental catalyst to revise estimates higher in the near term, the analyst tells investors in a research note.