The Globe and Mail reports in its Tuesday, Jan. 10, edition that Dominion Securities analyst Drew McReynolds downgraded BCE ($57.94) to "sector perform" from "outperform." The Globe's David Leeder writes that Mr. McReynolds shaved his share target to $60 from $61. Analysts on average target BCE stock at $60.82. Mr. McReynolds says in a note: "Our previous upgrade of the stock in 2015 was predicated on BCE's improving risk profile, specifically renewed wireline EBITDA growth, greater capex visibility and improved visibility on the Bell Media margin 'reset.' As we struggle to meaningfully differentiate between large-cap peers within the sector, we see BCE stock performing in line with the average for the group and hence our 'sector perform' ranking. Despite what could be a more challenging wireline environment for BCE in 2017, our view of BCE as a core holding in Canadian telecom is unchanged, reflecting: (i) industry-leading execution; (ii) the expectation of continued wireless leadership; (iii) strong cost management; (iv) a valuation that should be underpinned by healthy FCF generation and mid-single digit annual dividend growth; and (v) FCF accretion from the proposed acquisition of Manitoba Telecom."