RBC Downgrades TELUS to Hold Amid Broader Sector Trend

Royal Bank Of Canada has downgraded TELUS (TSE:T) to a 'hold' rating from its previous 'moderate buy' rating, according to a research report issued on Tuesday. This downgrade is part of a broader trend in the sector, with several other firms also recently commenting on TELUS.

ATB Cormark Capital Markets reduced their price target on shares of TELUS from C$19.00 to C$16.50 and set a 'sector perform' rating on the stock on Tuesday, July 28th. Meanwhile, TD upgraded shares of TELUS from a 'hold' rating to a 'buy' rating and upped their target price for the stock from C$19.00 to C$20.00 in a research note on April 28th.

This downgraded opinion is consistent with the consensus view among analysts, who have assigned TELUS a current rating of 'hold' and an average price target of C$18.68, according to data from MarketBeat.com.