The Globe and Mail reports in its Wednesday, Oct. 21, edition that Scotia Capital analyst Mager Yaghi sees the near-term operating backdrop for Canada's telecommunications companies "becoming more rational." The Globe's David Leeder writes in the Eye On Equities column that Mr. Yaghi says in a note: "SpaceX's pursuit of spectrum in the U.S. has created a new strategic risk. Unlike in the US, SpaceX does not own terrestrial spectrum in Canada and no spectrum auction would likely allow the company to buy a meaningful national spectrum position. In addition, SpaceX has told ISED it does not intend to offer a standalone Canadian wireless service and instead plans to sell satellite direct-to-device capacity to all interested carriers. We take that statement seriously, but the record from ISED's L- and S-band consultation shows that Canada's 2 GHz MSS/AWS-4 rights are now strategically contested. ... We have updated our estimates and increased our cost of debt assumptions in our DCF valuations leading to a few target price reductions." Accordingly, Mr. Yaghi gave his BCE share target a $3.50 trim to $36.50. He continues to rate BCE "sector outperform." Analysts on average target the shares at $37.11.