The Globe and Mail reports in its Wednesday edition that RBC Dominion Securities analyst Drew McReynolds continues to rate Telus "outperform" with a $24 share target. The Globe's David Leeder writes that analysts on average target the shares at $20.78. Mr. McReynolds says in a note: "Telus maintains a premium valuation relative to large cap peers suggesting a higher performance bar must be met in what remains a low revenue growth environment. While this premium valuation comes with a degree of valuation risk, we believe Telus as the structural leader within the group can maintain a premium valuation provided that certain boxes continue to be ticked through 2025–2027, including: (I) sustaining 3-4 per cent or higher adjusted EBITDA growth for TTech systematically realizing cost efficiencies; (ii) continuing to make progress towards management's 10 per cent consolidated capex intensity objective; (iii) delivering on its 2026-2028 FCF CAGR guidance of a minimum of 10 per cent; (iv) turning the discounted DRIP off by the end of 2027; (v) reducing leverage to three times by 2027 while pausing on major M&A and (vi) ultimately instituting a recurring NCIB to absorb excess FCF given the structural decline in capex."