The Globe and Mail reports in its Wednesday, April 3, edition that BMO Nesbitt Burns analyst Tim Casey, citing "a slower growth outlook based on competitive pressures in core wireless and wireline operations, particularly in Quebec and challenging comps in media," has downgraded BCE and Quebecor to "market perform" from "outperform." The Globe's David Leeder writes in the Eye On Equities column that Mr. Casey trimmed his target for BCE by $8 to $46. Analysts on average target BCE shares at $54.29. Mr. Casey cut his Quebecor share target by $9 to $33. Analysts on average target Quebecor shares at $39.02. Mr. Casey says in a note: "We expect the impact of competitive pressures will be reflected in both wireless and wireline service revenues and consolidated EBITDA. We expect operating conditions in Quebec to remain very challenging given price competition in legacy wireline from Quebecor. Rogers FWA products and (eventually) MVNO wireless options from Cogeco will impact the market at the margin but will be an incremental negative. Our loading assumptions are relatively unchanged as we expect robust conditions to remain in 2024. ... We are lowering target price multiples across the sector."