BCE (TSE:BCE) Price Target Cut to C$28.00 by Analysts at JPMorgan Chase & Co.

BCE (TSE:BCE) (NYSE:BCE) had its price target lowered by stock analysts at JPMorgan Chase & Co. from C$29.00 to C$28.00 in a report released on Thursday,BayStreet.CA reports. The brokerage presently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential downside of 11.20% from the company’s current price.

A number of other equities research analysts have also issued reports on BCE. Canaccord Genuity Group boosted their price target on shares of BCE from C$33.00 to C$33.50 and gave the company a “hold” rating in a report on Friday, February 7th. Scotiabank lowered their price target on BCE from C$42.00 to C$40.00 and set a “sector perform” rating on the stock in a report on Friday, February 7th. Barclays lowered shares of BCE from an “equal weight” rating to an “underperform” rating and reduced their price target for the stock from C$41.00 to C$30.00 in a research report on Thursday, January 30th. TD Securities boosted their price target on shares of BCE from C$31.00 to C$33.00 and gave the company a “hold” rating in a report on Friday, February 7th. Finally, Royal Bank of Canada dropped their target price on BCE from C$45.00 to C$41.00 and set a “sector perform” rating on the stock in a research report on Wednesday, December 18th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of C$40.42.

BCE Trading Up 0.9 %

Shares of TSE BCE traded up C$0.29 during mid-day trading on Thursday, hitting C$31.53. 2,815,122 shares of the company traded hands, compared to its average volume of 3,832,142. The business has a 50 day moving average of C$33.77 and a two-hundred day moving average of C$37.62. The stock has a market capitalization of C$28.56 billion, a price-to-earnings ratio of 105.78, a PEG ratio of 4.67 and a beta of 0.48. BCE has a 1 year low of C$30.71 and a 1 year high of C$49.13. The company has a quick ratio of 0.43, a current ratio of 0.62 and a debt-to-equity ratio of 226.73.

About BCE

BCE is both a wireless and internet service provider, offering wireless, broadband, television, and landline phone services in Canada. It is one of the big three national wireless carriers, with its roughly 10 million customers constituting about 30% of the market. It is also the ILEC (incumbent local exchange carrierthe legacy telephone provider) throughout much of the eastern half of Canada, including in the most populous Canadian provincesOntario and Quebec.