BCE upgraded to Buy from Hold at TD Securities

TD Securities upgraded BCE to Buy from Hold with a price target of C$61, down from C$63. Given the recent uncertainty in the macro and competitive environments, the firm has decided to trim its target multiples for the media segment, but contends that its revised target price of C$61 pointing to a one-year total return of 17% is “too high for a Hold rating on a low-risk stock with a dividend yield of 7%.”