TELUS (T.TO) was downgraded to Underperform from Buy at Bank of America Securities on Tuesday.
The price objective was cut to C$13 from C$22 on a "materially lower" free cash flow outlook for 2028, the firm said in a note.
"Our bull thesis of strong FCF growth and execution on monetizations has not played out, resulting in our changed view," BofA Securities said.
(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)
Price: 13.09, Change: -0.29, Percent Change: -2.17
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments