CIBC Cuts TELUS (TSE:T) Price Target to C$24.00

TELUS (TSE:T - Get Free Report) NYSE: TU had its price objective cut by research analysts at CIBC from C$25.00 to C$24.00 in a note issued to investors on Wednesday,BayStreet.CA reports. The brokerage presently has an "outperform" rating on the stock. CIBC's price target suggests a potential upside of 20.06% from the company's current price.

Several other research firms also recently commented on T. Cormark dropped their price objective on shares of TELUS from C$26.00 to C$25.00 in a report on Monday, November 11th. TD Securities dropped their price target on TELUS from C$26.00 to C$25.00 and set a "buy" rating for the company in a research note on Tuesday, December 3rd. National Bank Financial downgraded TELUS from a "strong-buy" rating to a "hold" rating in a research note on Thursday, December 12th. Barclays lowered their target price on TELUS from C$24.00 to C$23.00 in a research report on Wednesday, October 9th. Finally, Scotiabank cut their target price on shares of TELUS from C$23.25 to C$22.50 and set a "sector perform" rating for the company in a report on Wednesday. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of C$24.00.

TELUS Stock Performance

Shares of TELUS stock traded down C$0.09 during trading on Wednesday, hitting C$19.99. 5,683,929 shares of the company's stock traded hands, compared to its average volume of 3,931,514. TELUS has a 1 year low of C$19.10 and a 1 year high of C$24.92. The business has a 50-day simple moving average of C$21.04 and a 200-day simple moving average of C$21.66. 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 market capitalization of C$29.59 billion, a P/E ratio of 37.72, a PEG ratio of 1.65 and a beta of 0.72.

Insider Buying and Selling

In other news, Director Marc Parent purchased 19,100 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were purchased at an average cost of C$22.04 per share, with a total value of C$420,964.00. Also, Director Victor George Dodig purchased 100,000 shares of the company's stock in a transaction that occurred on Thursday, November 14th. The shares were 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 company 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.