12:53:02 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



BCE Inc (2)
Symbol BCE
Shares Issued 898,446,006
Close 2017-04-06 C$ 59.77
Market Cap C$ 53,700,117,779
Recent Sedar Documents

Globe says Citi hikes BCE to "buy" from "neutral"

2017-04-07 07:49 ET - In the News

The Globe and Mail reports in its Friday, April 7, edition that Citi analyst Adam Ilkowitz says the market is undervaluing BCE's ($59.77) cash flow growth profile. The Globe's David Leeder writes in the Eye On Equities column that Mr. Ilkowitz upgraded BCE to "buy" from "neutral," upon assuming coverage of the Canadian communications sector. Mr. Ilkowitz says in a note: "We are positive on BCE due to the consistent management focus on operating efficiency, network investments, and free cash flow growth. Valuation is at the low-end of the peer range, which we view as undervaluing the consistency of results and future dividend growth potential. Shaw recently entered two faster growth segments (wireless and data centres), but they are likely to be dilutive to profitability and free cash flow over the next several years due to lower current margins and success-based capital requirements. With a premium valuation, we think the market demands faster growth than we are forecasting while flexibility is limited with elevated leverage and limited FCF [free cash flow.]" He raised his target price for BCE stock to $66 from $63. Analysts on average target the shares at $59.93.

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