RBC Capital Markets raised its price target on TELUS Corp. (T.TO, TU) to $26 from $25.
Analyst Drew McReynolds maintained an Outperform rating on shares of the Canadian telecom company.
"Following a solid Q3/24 in a challenging operating environment, our price target increases," McReynolds said in a note to clients.
"Despite the more challenging operating environment, we expect TELUS to deliver industry-leading underlying growth and capital returns," the analyst said.
"The TELUS playbook comes out on top in a quarter of differentiated performance across the sector," McReynolds said.
"We continue to believe the Canadian telecom industry has entered a lower revenue growth phase (competition, maturity, substitution and regulation)."
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