Lower Price Targets for Telus & BCEWireless competition picked up in Q4 as carriers offered more attractive promotions to lock in the base ahead of the Rogers/Shaw deal resolution. Higher promotional activity could weigh on margins/industry wireless EBITDA growth, said UBS. UBS also expects fiber capex to slow down mainly for Telus as most of its expansion is complete. Lowering Telus PT to $28 from $33.