Vince Valentini (TD) on BNN w/ analysis on the telecomsVince Valentini: Another telecom analyst that I think is on the ball.
0:50: Overall telecom environment. Where the headwinds have been
2:30: Answers if waiting for rate cuts before jumping in is a good idea
3:30: Rogers analysis. Favorite. Growth at a reasonable valuation. Capturing the newcomers market. But lots of debt.
5:30: Telus analysis. Attractive for safety and dividend yield. Crazy that a company of this value can have a 7% dividend yield. Has been growing dividend 7% per year and will absolutely continue. Will grow their dividend again during Q1 earnings/results and likely reiterate their promise to grow their dividend by 7-10% for the next 3 years. Able to do this because they've finished their fiber investment and can reap the benefits of it for the next decade with lower capex and lower cost structure. Telus in a great position to manage their costs and grow their dividend
7:25: Bell analysis. Like it a bit less due to their FCF guidance negative surprise and they grew their dividend by only 3% instead of 5% like they did previously. Would not be surprised if there was a growth pause or even a cut.
https://www.bnnbloomberg.ca/investing/video/rogers-telus-stocks-attractive-right-now-analyst~2895744
Re: BMO Tim Casey's analysis. Yes, top line revenue numbers may struggle a bit in H1 due to increased competition. But the area of focus needs to be cost control so companies can deliver their services more cheaply while continuing to grow their earnings/cashflow.