Scotiabank Cuts BCE (TSE:BCE) Price Target to C$39.50

BCE (TSE:BCE) (NYSE:BCE) had its price target decreased by Scotiabank from C$40.00 to C$39.50 in a research note issued to investors on Wednesday,BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the stock. Scotiabank’s target price would indicate a potential upside of 29.64% from the company’s current price.

A number of other research analysts have also recently issued reports on BCE. National Bank Financial raised BCE from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 3rd. TD Securities lifted their price target on shares of BCE from C$31.00 to C$33.00 and gave the company a “hold” rating in a report on Friday, February 7th. Canaccord Genuity Group dropped their price objective on shares of BCE from C$33.50 to C$31.50 and set a “hold” rating for the company in a report on Monday, April 7th. JPMorgan Chase & Co. reduced their target price on BCE from C$29.00 to C$28.00 and set an “underweight” rating on the stock in a report on Thursday, April 3rd. Finally, National Bankshares raised their price target on BCE from C$35.00 to C$36.00 and gave the company a “sector perform” rating in a report on Tuesday, March 11th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of C$38.77.

BCE Price Performance

BCE stock opened at C$30.47 on Wednesday. The business has a 50 day simple moving average of C$32.79 and a 200 day simple moving average of C$36.12. The company has a debt-to-equity ratio of 226.73, a current ratio of 0.62 and a quick ratio of 0.43. The company has a market capitalization of C$27.60 billion, a PE ratio of 102.22, a price-to-earnings-growth ratio of 4.67 and a beta of 0.48. BCE has a one year low of C$28.73 and a one year high of C$49.13.

About BCE

BCE is both a wireless and internet service provider, offering wireless, broadband, television, and landline phone services in Canada. It is one of the big three national wireless carriers, with its roughly 10 million customers constituting about 30% of the market. It is also the ILEC (incumbent local exchange carrierthe legacy telephone provider) throughout much of the eastern half of Canada, including in the most populous Canadian provincesOntario and Quebec.