Analyst Coverage Change
TD Securities has recently revised its target on BCE Inc. releasing research report on February 3rd, which maintained The current “Hold” rating for the stock, and lowered the 12 month target price to CAD 64.
Morningstar, on the other hand, has maintained its previous rating of “Buy” for the company, with a target price of CAD 67, also as of February 3, 2023.
Cormark Securities, another investment firm, has upgraded its target for the company, with a target price of CAD 69, as of February 3, 2023.
BMO Capital Markets has also downgraded its target for the stock, but maintains an “Outperform” rating with a target price of CAD 64, as of February 3, 2023.
Scotia Capital has also maintained its rating of “Outperform” for the company, with a target price of CAD 66.75, as of February 3, 2023.
BCE Stock Price Forecast & Analysis
BCE Inc is a Canadian telecommunications company with a current stock price of CAD 61.39, as of the last closing. According to an average of 15 analyst forecasts, the target price for BCE Inc is expected to be CAD 64.96 over the next 12 months, with an average rating of “Buy” among these analysts.
Stock Target Advisor, has a slightly different view on BCE Inc, with a “Slightly Bearish” rating based on a combination of 5 positive signals and 10 negative signals.
BCE Earnings News
BCE Inc. reported a decrease in its fourth-quarter profit, which was slightly greater than expected, due to higher impairments and costs. The decline was primarily attributed to higher asset-impairment charges, increased interest expenses, and lower advertisement revenue. However, strong segment performance drove the revenue above the forecast. Operating revenues increased 3.7% to CAD 6.44 billion, higher than the estimated CAD 6.39 billion. The service revenue rose 2.1% to CAD 5.35 billion and the product revenue rose over 12% to CAD 1.09 billion due to stronger wireless, residential internet, media growth, and higher business wireline data equipment sales.
