Telus International price target raised to $10.50 from $8 at BMO Capital

BMO Capital analyst Keith Bachman raised the firm’s price target on Telus International to $10.50 from $8 and keeps a Market Perform rating on the shares. The company reported a “reasonable quarter” though the firm remains concerned about the underlying fundamentals of the business – more specifically, on an organic basis and excluding the three largest customers, Telus International’s growth declined again this quarter, the analyst tells investors in a research note. Telus’s guide was impressive versus expectations, though it is also based on a more optimistic view of the macro than the majority of services coverage universe has been embedding, BMO added.