TELUS (T) Reaches New 52-Week High After Analyst Upgrade

TELUS Co. (TSE:T) (NYSE:TU) hit a new 52-week high during mid-day trading on Monday after TD Securities raised their price target on the stock from C$51.00 to C$53.00. The stock traded as high as C$48.94 and last traded at C$48.78, with a volume of 329071 shares. The stock had previously closed at C$48.50.

Several other equities research analysts have also issued reports on T. Royal Bank Of Canada raised their price target on shares of TELUS from C$45.00 to C$46.00 and gave the stock a “sector perform” rating in a research note on Monday, August 14th. CIBC raised their price target on shares of TELUS from C$48.00 to C$50.00 in a research note on Monday, November 13th. Citigroup raised their price target on shares of TELUS from C$52.00 to C$54.00 in a research note on Monday, November 13th. BMO Capital Markets raised their price objective on shares of TELUS from C$47.00 to C$49.00 in a report on Monday, November 13th. Finally, Barclays raised their price objective on shares of TELUS from C$52.00 to C$53.00 in a report on Monday, November 13th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of C$51.25.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Monday, December 11th will be given a dividend of $0.505 per share. The ex-dividend date is Friday, December 8th. This represents a $2.02 annualized dividend and a dividend yield of 4.16%. This is a boost from TELUS’s previous quarterly dividend of $0.49. TELUS’s dividend payout ratio (DPR) is 91.31%.

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About TELUS

TELUS Corporation (TELUS) is a telecommunications company. The Company provides a range of telecommunications services and products, including wireless and wireline voice and data. Its data services include Internet protocol (IP), television (TV), hosting, managed information technology and cloud-based services, and certain healthcare solutions.

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