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UPDATE: BMO Capital Markets Upgrades BCE on Growing Uncertainty with Wireless Competition

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In a report published on Thursday, BMO Capital Markets analyst Tim Casey upgraded BCE (NYSE: BCE) from Market Perform to Outperform and lowered the price target on the company from $47 to $45.

In the report, BMO Capital Markets stated, "There is growing uncertainty regarding wireless competition that we believe is causing a re-rating of incumbent wireless businesses. As such, we are upgrading shares of large incumbent providers with relatively low exposure to wireless. On a consolidated basis, BCE derives ~30% of consolidated EBITDA from wireless, vs. ~65% for TELUS and ~63% for Rogers Communications."

BCE closed on Wednesday at $39.76.

Latest Ratings for BCE

DateFirmActionFromTo
Mar 2021Morgan StanleyUpgradesUnderweightEqual-Weight
Oct 2020BarclaysInitiates Coverage OnEqual-Weight
Jul 2020ScotiaBankMaintainsSector Outperform

View More Analyst Ratings for BCE
View the Latest Analyst Ratings

 

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Posted-In: BMO Capital Markets Tim CaseyAnalyst Color Upgrades Analyst Ratings

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