DesjardinsDesjardins Securities analyst Jerome Dubreuil expects “a more news-rich” earnings season in Canadian telecommunications sector. However, to reflect higher interest rates, Mr. Dubreuil reduced his target prices for five of the six stocks in the sector. His changes are: * Telus Corp. ( “buy”) to $33 from $34. Average: $33.30.
“For 3Q22, we have left our adjusted EBITDA estimate virtually unchanged as the increase in competition amid back-to-school was offset by the earlier-than-anticipated close of the LWRK acquisition (now added to our forecast),” he said. “For 3Q22, our year-over-year adjusted EBITDA growth forecast stands at 8.6 per cent (with 1-per-cent growth from the LWRK deal), lower than consensus of 9.0 per cent.