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Dec. 18, 2015, 3:14 PM
- Telus (NYSE:TU) is rebounding today, +2%, from a rough Thursday where it gave up 7.8% after news that rival Shaw was getting into the wireless market with a C$1.6B purchase of WIND Mobile.
- That's in spite of downgrades coming in today. Scotiabank and Howard Weil have each downgraded the shares to Sector Perform, from Outperform.
- RBC Capital made a similar downgrade and cut its price target on the firm, to C$41 from C$47. Shares in Toronto are up 1.8% to C$38.60, implying 6% upside in RBC's target.
- Desjardins reiterated its Hold rating on the stock in the wake of the news.
- Previously: Canadian telecoms off sharply following Shaw's entry to wireless (Dec. 17 2015)
Dec. 17, 2015, 10:50 AM
- Canadian telecoms are trading lower as downgrades come in amid expectations that wireless competition pressure will heat up with Shaw's (SJR -9.6%) C$1.6B entry into the market.
- Telus (NYSE:TU) is off 8.9% in U.S. trading following a downgrade by RBC Capital, to Sector Perform.
- Meanwhile, Morgan Stanley cut its ratings on Rogers Communications (RCI -5.1%) and BCE (BCE -3.6%), both to Equal Weight.
- Previously: Shaw Communications -9.2% in wake of C$1.6B WIND Mobile purchase (Dec. 17 2015)
- Previously: Shaw Communications buys into wireless with C$1.6B WIND acquisition (Dec. 16 2015)
Nov. 6, 2015, 3:44 PM
- Telus (NYSE:TU) is down 2.2% in U.S. trading after seeing price target cuts from Canadian firms following a Q3 profit beat it managed on in-line revenues yesterday.
- Scotiabank cut its price target on the stock to C$45; shares closed yesterday at C$41.91 in Toronto and are trading currently at C$41.43, implying 8.6% upside from current.
- Meanwhile, TD Securities cut its own price target to C$46. Both firms have Buy ratings on Telus stock.
- Previously: TELUS beats by C$0.03, revenue in-line (Nov. 05 2015)
Oct. 2, 2015, 3:33 PM
- Telus (NYSE:TU) is up 2.4% after announcing it will invest $1B to connect most premises in Vancouver to its fiber network in the next five years.
- "Once complete, Telus' fiber build will add more than 400,000 homes, businesses, hospitals, community centres and municipal offices to our fibre-lit landscape," says CEO Darren Entwistle in a statement.
- When the first neighborhoods are connected, residents will be able to get 150 Mbps with speeds on the gigabit-enabled network gradually increasing along with demand, it says.
Jun. 25, 2015, 9:57 AM
- Shaw Communications (NYSE:SJR) is up 1.5% despite a miss on profits for its fiscal Q3, after growing revenues 6% with help from solid growth in business network services and its ViaWest acquisition.
- Basic GAAP EPS was C$0.42 (down more than 8%), and adjusted EPS was C$0.44 vs. an expected C$0.50. Revenues of C$1.419B were in line. Total operating income (before restructuring/amortization) of C$643M was up 7% Y/Y.
- Free cash flow of $256M was up from the prior year's $240M.
- Revenue by segment: Consumer, C$950M (up 0.5%); Business Network Services, C$131M (up 7.4%); Business Infrastructure Services, C$63M (new, with ViaWest acquisition); Media, C$303M (up 0.7%).
- The company guided to operating income (before restructuring/amortization) growth for 2015 toward the lower end of a 5%-7% range with inclusion of ViaWest (about $85M). Free cash flow is expected to exceed $650M.
- Canadian peers are trading higher so far today: BCE +1.6%; RCI +1.4%; TU +0.8%.
Feb. 6, 2015, 3:41 PM
- Canadian telecom BCE is off 5% on heavy volume today, pulling back from yesterday's post-earnings record high trading, amid a flurry of new analyst opinions.
- National Bank Financial and TD Securities downgraded the shares, to Underperform and Reduce respectively. Meanwhile four other firms boosted price targets within a range of C$54 to C$61 (about $43-48). Shares are currently trading at US $45.06.
- In-country peers are off as well: Shaw Communications (NYSE:SJR) down 2%; Rogers Communications (NYSE:RCI) down 2%; TELUS (NYSE:TU) down 2.3%.
Apr. 3, 2014, 9:36 AM
- OpenTable (OPEN +3.2%) has been upgraded to Buy by Citi.
- Level 3 (LVLT -1.3%) has been cut to Hold by Gabelli.
- Altera (ALTR +1.2%) and Xilinx (XLNX +0.8%) have been started at Outperform by FBR. Separately, Piper has assumed coverage of Altera at Overweight, and Xilinx at Neutral.
- Telus (TU -1.2%) has been cut to Neutral by Macquarie. The carrier recently announced a CEO change.
Sep. 3, 2013, 9:55 AM
- Nokia (NOK +38.5%) has been upgraded to neutral ratings by Credit Suisse, Bernstein, and Oppenheimer following the Microsoft deal.
- Vodafone (VOD -3%) has been upgraded to Market Perform by Bernstein, and cut to Neutral by Macquarie, in the wake of the Verizon deal.
- Canadian carriers BCE (BCE +4.4%) and Telus (TU +6.8%) have been upgraded to Outperform in response to Verizon/Vodafone, and Verizon's subsequent assertion it has no plans to enter Canada.
- AT&T (T +0.6%) has been upgraded to Neutral by Macquarie.
- Palo Alto Networks (PANW -1.5%) has been downgraded to Market Perform by JMP.
- Cvent (CVT +1.4%) has received three bullish ratings and one neutral one, and YuMe (YUME +1.5%) has received four bullish ratings, as underwriters launch post-IPO coverage.
Aug. 29, 2013, 12:01 PM
- Rogers (RCI +2.8%), BCE (BCE +1.9%), and Telus (TU +2.8%) are all posting solid gains after Bloomberg reported Verizon is in advanced talks to buy Vodafone's 45% Verizon Wireless stake for $130B and plans to partly finance the deal by raising $60B in debt, and Vodafone subsequently confirmed it's talking to Big Red.
- Investors are betting the deal's enormous price tag will make Verizon (VZ +3.4%) hold off on its Canadian expansion plans for now. Verizon already had $49.8B in debt on its balance sheet at the end of Q2, offset only a little by $5.7B in cash/investments.
- The Globe and Mail recently reported Verizon has decided to hold off on making bids for smaller Canadian carriers until a January spectrum auction concludes.
- Meanwhile, Nomura believes even a $130B deal for Vodafone's stake would be accretive for Verizon, since it would still only value Verizon Wireless at 8.5x 2013E EBITDA. The firm thinks Verizon would trade at 7x 2014E EBITDA and 2.3x net debt/EBITDA (a ratio deemed "manageable") following a $130B deal half-paid in cash.
- Judging by today's move in Verizon shares, investors also think the positives outweigh the negatives. Is Verizon getting a good deal on a premium asset - while Verizon's wireline revenue continues to slowly decline, Verizon Wireless is still growing and gaining share - or is Vodafone smartly selling high as U.S. mobile growth slows and competition intensifies?
Jun. 27, 2013, 9:59 AMA roundup of tech ratings changes: 1) BNP Paribas has started Baidu (BIDU +1.6%) at Buy. 2) Longbow has upgraded Seagate (STX +4.1%) and Western Digital (WDC +2.9%) to Buy. 3) Pac Crest has started Synchronoss (SNCR +2.9%) at Outperform. 4) Lazard has upgraded Trimble (TRMB +2.5%) to Buy. 5) BMO and RBC have downgraded Rogers (RCI -1.9%) to Market Perform/Sector Perform, and BMO has also downgraded Telus (TU -2.4%) to Market Perform. However, Stifel has upgraded Telus to Buy. (yesterday). 6) HSBC has upgraded Sohu (SOHU +3.8%) to Neutral. 7) China Mobile (CHL +1.7%) has been upgraded to Neutral by BofA/Merrill. 8) Atmel (ATML +1.4%) has been upgraded to Buy by Lazard. 9) Flir Systems (FLIR +2.1%) has been upgraded to Overweight by Stephens. | Jun. 27, 2013, 9:59 AM
Jun. 26, 2013, 11:34 AMCanadian mobile carriers Rogers (RCI -8.6%), BCE (BCE -4%), and Telus (TU -7.7%) sell off hard after The Globe and Mail reports Verizon has offered ~$700M for second-tier Canadian carrier Wind, is also talking with peer with Moblicity, and is thinking of taking part in upcoming spectrum auctions. Fears about Verizon's impact on incumbent carriers have already been running high. | Jun. 26, 2013, 11:34 AM | 11 Comments
Apr. 28, 2011, 12:42 PM
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