Telus International price target lowered to $29 from $38 at RBC Capital

RBC Capital analyst Daniel Perlin lowered the firm’s price target on Telus International to $29 from $38 but keeps an Outperform rating on the shares. The company’s Q4 results missed the firm’s expectations amid weakness in Europe, while its ecommerce & fintech vertical also saw continued timing delays as customers prolong decision-making, the analyst tells investors in a research note. The firm remains positive on the stock however, citing its differentiation in high concentration of digital solutions, deep domain expertise in fast growing verticals such as Tech & Game and eCommerce & FinTech, and its expanding addressable market.