Telus International price target raised to $16.50 from $14.50 at Canaccord

Canaccord analyst Aravinda Galappatthige raised the firm’s price target on Telus International to $16.50 from $14.50 and keeps a Buy rating on the shares. The firm said results and guidance were inline and noted management suggested a degree of uncertainty around client spend trends due to the macro-overhang, with the CEO indicating they are “not yet back to normal operating rhythm”. This is broadly similar to comments heard from the majority of players in the space, while a couple of comps have indicated signs of an acceleration in demand.