The Globe and Mail reports in its Friday edition that Desjardins analyst Jerome Dubreuil has reaffirmed his "buy" recommendation for Quebecor. The Globe's David Leeder writes that Mr. Dubreuil cut his share target back by $2 to $40. Analysts on average target the shares at $38.85. Mr. Dubreuil says in a note, "We continue to see a long runway of growth for Quebecor, but note that a positive development on the MVNO [mobile virtual network operator] file would make us more confident in the near-term performance of the stock." On the telecom sector the Desjardins stockpicker says: "We see no obvious place to hide from industry headwinds in the quarter. While we continue to see challenges in Canadian telecoms going forward, we believe the recent pullback in industry valuations makes it less attractive to be underweight Canadian telecoms post 1Q24 results." The Globe reported on Nov. 3 and Dec. 7 that Mr. Dubreuil had reaffirmed his "buy" recommendation for Quebecor. The shares could then be had for $31.06 and $31.15. The Globe reported on Jan. 12 that Mr. Dubreuil said he preferred Quebecor over Cogeco Communications. Quebecor shares were then worth $32.91.