RE:Top Pick BNN Telus (T TSX)
The pain in telecom shares has gone too far in my opinion. Headwinds from interest rates, slowing immigration, competition, and a softer economy are reasonably reflected in the shares while tailwinds from data demand, ongoing population growth and a decline in capex intensity should support the stock from here on a long term basis. This is not a near term call, but tucking some Telus away with a near seven per cent dividend yield at a time where free cash flow is likely to inflect higher should look pretty attractive with a five year time horizon.
Owned personally, by family and in fund