JPMorgan Chase & Co. Cuts TELUS (TSE:T) Price Target to C$22.00

TELUS (TSE:T) (NYSE:TU) had its price objective reduced by stock analysts at JPMorgan Chase & Co. from C$23.00 to C$22.00 in a research note issued on Thursday,BayStreet.CA reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 10.50% from the stock’s previous close.

Other research analysts also recently issued research reports about the company. Barclays cut their target price on TELUS from C$24.00 to C$23.00 in a research note on Wednesday, October 9th. BMO Capital Markets boosted their price objective on shares of TELUS from C$24.00 to C$25.00 in a research note on Thursday, September 5th. Royal Bank of Canada lowered their target price on shares of TELUS from C$25.00 to C$24.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 18th. Cormark reduced their price target on shares of TELUS from C$26.00 to C$25.00 in a research report on Monday, November 11th. Finally, National Bank Financial downgraded TELUS from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 12th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of C$24.06.

TELUS Trading Up 1.4 %

TSE:T opened at C$19.91 on Thursday. TELUS has a 1 year low of C$19.10 and a 1 year high of C$24.92. The stock’s fifty day moving average price is C$21.17 and its two-hundred day moving average price is C$21.70. 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 company has a market cap of C$29.47 billion, a P/E ratio of 37.57, a P/E/G ratio of 1.65 and a beta of 0.72.

Insiders Place Their Bets

In related news, Director Marc Parent purchased 19,100 shares of TELUS stock in a transaction that occurred on Tuesday, December 10th. The shares were 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 acquired 100,000 shares of the stock in a transaction on Thursday, November 14th. The stock was bought at an average price of C$21.38 per share, with a total value of C$2,138,000.00. Insiders own 0.02% of the company’s stock.

About TELUS

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.