The Globe and Mail reports in its Friday, Oct. 30, edition that TD Cowen analyst Vince Valentini is keeping his "buy" ranking for BCE intact. The Globe's David Leeder writes in the Eye On Equities column that Mr. Valentini gave his share target a $4 boost to $44. Analysts on average target the shares at $36.87. Mr. Valentini says in a note: "We see a more balanced and increasingly compelling risk/reward setup emerging. While investor sentiment remains cautious following the dividend reset and uncertainty around Ziply, we believe the market is underappreciating BCE's ability to compound modest but durable growth across its core Canadian wireless and Internet businesses, while unlocking additional upside through AI datacentre expansion, potential infrastructure partnerships, non-core asset monetization, and improved U.S. fibre execution. With management targeting 2025A-2028E revenue and EBITDA growth of 2-4 per cent and 2-3 per cent, respectively, a more sustainable payout ratio, and a 5-per-cent dividend yield, we believe the stock will outperform as execution improves and catalysts materialize over the next 12 months." Mr. Valentini adds, "The dividend is safe in our view."
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