BofA analyst Cassie Chan lowered the firm’s price target on Telus International to $21 from $26 and keeps a Buy rating on the shares. The firm highlighted in a research note on Friday that the company pre-announced a weaker-than-expected Q2, while cutting the 2023 revenue/EPS outlook by 10%/23% at the midpoint. Telus is seeing lower than expected volumes, ongoing project delays, and pipeline conversion weakness particularly among larger tech clients and in Europe.
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