BCE (TSE:BCE) Given New C$29.00 Price Target at JPMorgan Chase & Co.

BCE (TSE:BCE) (NYSE:BCE) had its price target increased by stock analysts at JPMorgan Chase & Co. from C$28.00 to C$29.00 in a research note issued to investors on Monday,BayStreet.CA reports. JPMorgan Chase & Co.‘s price objective would suggest a potential downside of 7.94% from the company’s previous close.

A number of other equities research analysts have also recently commented on BCE. Desjardins increased their price target on BCE from C$36.00 to C$39.00 and gave the company a “hold” rating in a research note on Friday. Royal Bank of Canada dropped their price objective on BCE from C$37.00 to C$35.00 and set a “sector perform” rating on the stock in a report on Friday. Canaccord Genuity Group raised their target price on BCE from C$31.50 to C$32.00 and gave the company a “hold” rating in a research report on Friday. Barclays downgraded BCE from an “equal weight” rating to an “underperform” rating and decreased their target price for the company from C$41.00 to C$30.00 in a research report on Thursday, January 30th. Finally, National Bank Financial upgraded BCE from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 3rd. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of C$37.64.

BCE Price Performance

Shares of BCE traded down C$0.10 during mid-day trading on Monday, hitting C$31.50. 2,134,012 shares of the stock were exchanged, compared to its average volume of 3,983,262. The firm has a 50-day moving average of C$31.72 and a two-hundred day moving average of C$34.37. The company has a market cap of C$28.53 billion, a PE ratio of 105.68, a price-to-earnings-growth ratio of 4.67 and a beta of 0.48. The company has a debt-to-equity ratio of 226.73, a quick ratio of 0.43 and a current ratio of 0.62. BCE has a 52-week low of C$28.73 and a 52-week high of C$49.13.

BCE Company Profile

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.