JPMorgan Chase & Co. Forecasts Strong Price Appreciation for BCE (TSE:BCE) Stock

BCE (TSE:BCE) (NYSE:BCE) had its price objective hoisted by investment analysts at JPMorgan Chase & Co. from C$28.00 to C$29.00 in a report released on Monday,BayStreet.CA reports. JPMorgan Chase & Co.‘s price objective suggests a potential downside of 5.32% from the stock’s previous close.

Several other equities analysts also recently commented on the stock. Barclays downgraded shares of BCE from an “equal weight” rating to an “underperform” rating and decreased their price objective for the company from C$41.00 to C$30.00 in a report on Thursday, January 30th. National Bank Financial upgraded shares of BCE from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 3rd. Canaccord Genuity Group upped their price target on shares of BCE from C$31.50 to C$32.00 and gave the company a “hold” rating in a research note on Friday, May 9th. TD Securities upped their price target on shares of BCE from C$31.00 to C$33.00 and gave the company a “hold” rating in a research note on Friday, February 7th. Finally, Desjardins upped their price target on shares of BCE from C$36.00 to C$39.00 and gave the company a “hold” rating in a research note on Friday, May 9th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of C$37.64.

BCE Price Performance

TSE:BCE opened at C$30.63 on Monday. BCE has a one year low of C$28.73 and a one year high of C$49.13. The company has a market cap of C$27.74 billion, a P/E ratio of 102.76, a P/E/G ratio of 4.67 and a beta of 0.48. The firm’s fifty day moving average price is C$31.58 and its two-hundred day moving average price is C$34.25. The company has a debt-to-equity ratio of 226.73, a current ratio of 0.62 and a quick ratio of 0.43.

BCE Company Profile

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.