TSX:BCE - Post Discussion
Post by
Dibah420 on May 21, 2024 5:11pm
UBS
UBS Cuts BCE Target to $50, Maintains Neutral Rating
MT Newswires - May 21, 2024 11:59 AM EDT
11:59 AM EDT, 05/21/2024 (MT Newswires) -- UBS is revising its BCE estimates to reflect recent results and increased competitive intensity that is impacting churn and ARPU. "While we expect BCE to benefit from cost control and recent headcount reductions, we expect the company to come in at the low-end of its annual guidance, including flat revenues and ~2% EBITDA growth (prior UBSe 2.7%)."
Along with higher interest, taxes and severance (net of lower capex), FCF is expected to fall 8% yoy to $2.89 billion (prior UBSe $2.95 billion).
Maintain Neutral, target cut to $50, from $55.
Price: 46.63, Change: -0.13, Percent Change: -0.28
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