Scotiabank Cuts BCE (TSE:BCE) Price Target to C$40.00

BCE (TSE:BCE - Get Free Report) NYSE: BCE had its price objective dropped by research analysts at Scotiabank from C$42.00 to C$40.00 in a research note issued on Friday,BayStreet.CA reports. The brokerage currently has a "sector perform" rating on the stock. Scotiabank's price target points to a potential upside of 22.32% from the stock's previous close.

Several other research analysts have also weighed in on BCE. TD Securities lifted their target price on BCE from C$31.00 to C$33.00 and gave the stock a "hold" rating in a report on Friday. Canaccord Genuity Group lifted their target price on BCE from C$33.00 to C$33.50 and gave the stock a "hold" rating in a report on Friday. JPMorgan Chase & Co. lowered BCE from a "neutral" rating to an "underweight" rating and reduced their target price for the stock from C$35.00 to C$29.00 in a report on Friday. National Bankshares cut their price target on BCE from C$37.00 to C$35.00 and set a "sector perform" rating on the stock in a report on Friday, January 3rd. Finally, Canaccord Genuity Group cut their price target on BCE from C$41.00 to C$37.50 in a report on Friday, November 8th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of C$40.42.

BCE Stock Up 1.5 %

Shares of BCE stock traded up C$0.49 during trading on Friday, reaching C$32.70. 2,575,278 shares of the company were exchanged, compared to its average volume of 4,122,735. The business's 50-day simple moving average is C$34.29. The company has a quick ratio of 0.43, a current ratio of 0.65 and a debt-to-equity ratio of 197.43. The stock has a market cap of C$29.83 billion, a price-to-earnings ratio of 15.21, a price-to-earnings-growth ratio of 4.67 and a beta of 0.48. BCE has a twelve month low of C$31.43 and a twelve month high of C$51.57.

About BCE

BCE Inc, a communications company, provides wireless, wireline, Internet, and television (TV) services to residential, business, and wholesale customers in Canada. The company operates through two segments, Bell Communication and Technology Services, and Bell Media. The Bell Communication and Technology Services segment provides wireless products and services including mobile data and voice plans and devices; wireline products and services comprising data, including internet access, internet protocol television, cloud-based services, and business solutions, as well as voice, and other communication services and products; and satellite TV and connectivity services for residential, small and medium-sized business, government, and large enterprise customers.