RBC Capital Markets lowered its price target on BCE Inc. (BCE.TO, BCE) to $39 from $40.
Analyst Drew McReynolds maintained a Sector Perform rating on shares of the Canadian media and telecom company following its Q4 results.
"We look for more timely entry points with the closing of the MLSE and Ziply transactions (H2/25), an associated uptick in revenue and EBITDA growth, and greater progress in tracking toward targeted dividend payout and leverage ratios (including additional non-core asset sales and/or infrastructure crystallizations) being potential catalysts for the stock," McReynolds said in a note to clients.
"While the current dividend yield appears compelling, until these potential catalysts emerge, we see the stock as largely rangebound, compounded by a relatively high cost of equity following the pullback in the shares along with the newly instituted DRIP," the analyst said.
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