The Globe and Mail reports in its Thursday, April 11, edition that RBC Dominion Securities analyst Drew McReynolds predicts a dull earnings period for the Canadian telecommunication group due to increased competition during the seasonally slower first quarter. The Globe's David Leeder writes in the Eye On Equities column that in a research report released Wednesday, Mr. McReynolds warned it was "not exactly a rip roaring start to the year." Mr. McReynolds says in a note: "Following another quarter of elevated competitive intensity in Q1/24, we believe investor patience is wearing about as thin as we have ever seen it with investor sentiment on the sector hitting new lows. Although under the most probable scenarios we see the glass as half full with the likelihood of some easing in competitive intensity as 2024 progresses, we revisit our base case assumptions for the competitive, regulatory and growth outlooks as well as capital returns and valuations." While Mr. McReynolds thinks valuations look "reasonable," he reduced his share target for Quebecor to $35 from $36. Mr. McReynolds continues to rate the shares "sector perform." Analysts on average target the shares at $39.10.