Scotiabank Reaffirms Their Hold Rating on BCE Inc.

By Carrie Williams

Wall Street analyst has provided a review for the Technology company yesterday, but retained the same rating on the stock. Scotiabank’s analyst Jeff Fan reiterates their Hold rating on the shares of BCE Inc. (TSX: BCE), with a C$60 price target.

According to TipRanks.com, Fan is a 4-star analyst with an average return of 6.9% and a 78.8% success rate. Fan covers the Technology sector, focusing on stocks such as Rogers Communication, BCE Inc, and Verizon.

Currently, the analyst consensus on BCE Inc. is Moderate Buy and the average price target is C$61.80, representing a 5.8% upside.

In a report issued on July 12, RBC Capital also reiterated a Hold rating on the stock with a C$60 price target.

Based on BCE Inc.’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of C$5.38 billion and quarterly net profit of C$710 million. In comparison, last year the company earned revenue of C$5.34 billion and had a net profit of C$813 million.

BCE, Inc. engages in the provision of communication services to consumer, residential, business, and government customers. It operates through the following segments: Bell Wireless, Bell Wireline, and Bell Media.

The company’s shares closed on Friday at C$58.43.