BCE Inc. (BCE) was Upgraded to a Buy Rating at Scotiabank


In a new note to investors on October 10, an analyst has provided a rating update for the Technology company, BCE Inc. (TSX: BCE). On October 10, analyst Jeff Fan gave a Buy rating to BCE and set a C$58 price target.

According to TipRanks.com, Fan is a 3-star analyst with an average return of 2.7% and a 58.4% success rate. Fan covers the Technology sector, focusing on stocks such as Rogers Communication, AT&T Inc, and BCE Inc.

Read also: Why This Bear Significantly Raised His Price Target on Advanced Micro Devices (AMD) Stock

BCE Inc. has an analyst consensus of Moderate Buy, with a price target consensus of C$58.34.

Based on BCE Inc.’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of C$5.79 billion and net profit of C$739 million. In comparison, last year the company earned revenue of C$5.68 billion and had a net profit of C$801 million.

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 business segments: Bell Wireless, Bell Wireline, and Bell Media.

The company’s shares closed on Friday at C$51.31, close to its 52-week low of C$50.84.

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