Telus 2027 Outlook Murky Despite Credible 2028 De-Leveraging Plan
Dow Jones11-10
1432 ET - RBC thinks the new management of Telus is "likely to stick the 2028 landing," but until then, analyst Drew McReynolds says he's staying on the sidelines "pending better visibility on the 2027 outlook," and better entry points. Longer term, McReynolds expects management to deliver on its 2028 de-levering target 3.0x while generating free cash flow at a compounded annual growth rate of above 10%. To fund this turnaround, Telus is rolling out a C$900 million efficiency program and shedding non-core assets, with the sale process of its first Telus Health business at an "advanced stage."
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