0727 ET - Telus may be the more attractive of Canada's telecoms thanks to its healthy dividend growth. Telus has faced increased competition and lower subscriber numbers, but unlike its peers, it increased its dividend at a 7% annualized rate. TD Cowen analyst Vince Valentini says he lowered expectations for wireless subscriber and annualized revenue per unit estimates, but says there is enough of an offset from the dividend component of his valuation to keep the target price of C$26 intact. "With no dividend growth expected at BCE or Rogers, we believe Telus shares could benefit from fund flows out of money-market funds, as the BoC likely continues to lower rates," he says.(adriano.marchese@wsj.com)
(END) Dow Jones Newswires
November 11, 2024 07:27 ET (12:27 GMT)
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