BCE upgraded to Outperformer at CIBC with concerns priced in

As previously reported, CIBC analyst Stephanie Price upgraded BCE to Outperformer from Neutral with an unchanged price target of C$52. The stock is trading at a five-year trough multiple amid heightened competitive intensity, volatile interest rates and concerns around free cash flow growth, notes the analyst. While the firm recognizes these concerns, it believes that they have been “priced into the name at these levels,” the analyst tells investors.