TELUS (TSE:T) Given New C$24.00 Price Target at CIBC

TELUS (TSE:T) (NYSE:TU) had its target price cut by equities research analysts at CIBC from C$25.00 to C$24.00 in a report released on Wednesday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. CIBC’s price target would suggest a potential upside of 20.24% from the company’s previous close.

Several other brokerages have also recently weighed in on T. Scotiabank dropped their price target on shares of TELUS from C$23.25 to C$22.50 and set a “sector perform” rating for the company in a research report on Wednesday. Cormark cut their target price on TELUS from C$26.00 to C$25.00 in a research note on Monday, November 11th. JPMorgan Chase & Co. dropped their price objective on TELUS from C$23.00 to C$22.00 and set a “neutral” rating for the company in a report on Thursday, January 2nd. National Bank Financial cut TELUS from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 12th. Finally, TD Securities cut their price target on shares of TELUS from C$26.00 to C$25.00 and set a “buy” rating on the stock in a report on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of C$24.00.

TELUS Stock Performance

Shares of TSE:T traded down C$0.12 during trading on Wednesday, hitting C$19.96. 1,737,818 shares of the company were exchanged, compared to its average volume of 3,124,913. The company has a market cap of C$29.54 billion, a PE ratio of 37.66, a P/E/G ratio of 1.65 and a beta of 0.72. TELUS has a 52-week low of C$19.10 and a 52-week high of C$24.92. The company has a debt-to-equity ratio of 171.58, a current ratio of 0.66 and a quick ratio of 0.52. The stock has a 50 day moving average of C$21.04 and a 200 day moving average of C$21.66.

Insider Buying and Selling at TELUS

In other news, Director Marc Parent bought 19,100 shares of TELUS stock in a transaction on Tuesday, December 10th. The stock was acquired at an average cost of C$22.04 per share, for a total transaction of C$420,964.00. Also, Director Victor George Dodig purchased 100,000 shares of the stock in a transaction dated Thursday, November 14th. The stock was purchased at an average price of C$21.38 per share, for a total transaction of C$2,138,000.00. 0.02% of the stock is currently owned by corporate insiders.

TELUS Company Profile

TELUS Corporation, together with its subsidiaries, provides a range of telecommunications and information technology products and services in Canada. It operates through Technology Solutions and Digitally-Led Customer Experiences segments. The Technology Solutions segment offers a range of telecommunications products and services; network services; healthcare services; mobile technologies equipment; data services, such as internet protocol; television; hosting, managed information technology, and cloud-based services; software, data management, and data analytics-driven smart food-chain and consumer goods technologies; home and business security; healthcare software and technology solutions; and voice and other telecommunications services, as well as mobile and fixed voice and data telecommunications services and products.