08:09:17 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



BCE Inc (2)
Symbol BCE
Shares Issued 778,126,130
Close 2014-08-15 C$ 48.29
Market Cap C$ 37,575,710,818
Recent Sedar Documents

Post says BCE seen as sell for high valuation

2014-08-15 07:24 ET - In the News

The Financial Post reports in its Friday edition Renato Anzovino at Heward Investment Management says sell BCE ($48.57). The Post's Jonathan Ratner, writing in Buy & Sell, says Mr. Anzovino does not have a problem with this telco, but noted it is at the high end of its valuation range. "It's more expensive than the other telcos, and future growth opportunities are becoming more limited," he said. Potential positives for BCE include strong financial results and growth in Internet protocol television. Over all, "We don't see a recession, but we don't see high growth either," Mr. Anzovino said. "Given all the uncertainties out there and how well equity markets have done in the past few years, we're taking a slightly more cautious approach." The portfolio manager is concentrating on company-specific drivers, particularly strong managements that can generate strong free cash flow and recurring revenue. Mr. Anzovino also expects companies with excess cash that can be used to grow or return capital to shareholders will become more valuable to investors. This means avoiding materials and energy. The manager is also cautious in the utilities space, noting the sector is vulnerable if interest rates creep up.

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