BCE (BCE) Receives a Buy from Canaccord Genuity

By Carrie Williams

In a report released today, Aravinda Galappatthige from Canaccord Genuity maintained a Buy rating on BCE (BCEResearch Report), with a price target of C$58.00. The company’s shares closed last Monday at $37.69.

According to TipRanks.com, Galappatthige is a 2-star analyst with an average return of -0.5% and a 53.1% success rate. Galappatthige covers the Services sector, focusing on stocks such as Corus Entertainment, Thomson Reuters, and Yellow Media.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for BCE with a $43.52 average price target.

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BCE’s market cap is currently $31.71B and has a P/E ratio of 12.30. The company has a Price to Book ratio of -6.04.

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BCE, Inc. is a telecommunications and media company, which engages in the provision of communication services to residential, business, and wholesale customers. It operates through the following segments: Bell Wireless, Bell Wireline and Bell Media. The Bell Wireless segment covers integrated digital wireless voice and data communications products and services to residential and business customers. The Bell Wireline segment offers data, including Internet access and Internet protocol television, local telephone, long distance, as well as other communications services and products to residential, small and medium-sized business, and large enterprise customers. The Bell Media segment includes conventional, specialty and pay television, digital media, radio broadcasting services, and out-of-home advertising services. The company was founded on February 25, 1970 and is headquartered in Verdun, Canada.