BCE upgraded to Outperform from Sector Perform at National Bank

National Bank upgraded BCE to Outperform from Sector Perform with an unchanged C$60 price target. The stock has fallen over 16% since May 2nd and now yields 7.1% in dividend, mating the levels seen during the Credit Crisis and the start of Covid, the analyst tells investors in a research note. Rates may yet go higher in Canada and further impact high-yielding stocks, but the rate-hike cycle appears closer to a conclusion even if rates may stay higher for longer than anticipated, the firm added.