The Globe and Mail reports in its Wednesday, Dec. 17, edition that RBC Dominion Securities analyst Drew McReynolds is sticking with his "outperform" recommendation and $38 share target for BCE. The Globe's David Leeder writes in the Eye On Equities column that analysts on average target the shares at $36.06. Mr. McReynolds says in a note: "Following the October, 2025, Investor Day, we upgraded the stock on a more attractive growth and risk profile. We continue to believe current levels represent an attractive and timely entry point reflecting what should be a gradual and sustained reacceleration in underlying revenue and adjusted EBITDA growth beginning in 2026 driven by both differentiated and diversified growth tailwinds (Ziply, Enterprise, Bell Media) against the backdrop of an improving wireless pricing environment in Canada. At a FTM EV/EBITDA multiple of 6.8 times, we see the potential for modest multiple expansion through the medium term should management execute on its 2025-2028 outlook, which in our view, has contributed meaningfully to earnings visibility relative to Canadian peers. Our forecast is slightly more conservative relative to the 2026-2028 outlook, leaving the potential for upside earnings surprise."