RE:Telus rating increased, potential upside upto $2.00$55 next year is pretty wishful thinking IMO as that is what(?) a more than a 25% rise in valuation. There doesn't seem to be a lot of significant growth factors that would contribute to a corespondingly significant increase in valuation.
I'd be happy if it reached mid $40's next year and proceed with the increase of the dividend by 10% YOY as they have projected to 2016.
However, interesting question and answer in the Q3 invester's call where Dvai Ghose raised the question of a 18% decrease in free cashflow and John Gossling (CFO) said it was due to some tax issues this year that should free up in the upcoming years for the dividends and Darren Entwistle seemed to imply 2016 will not be the last year of the NCIB (share buybacks) and dividend growth programs.