BCE (TSE:BCE) Price Target Lowered to C$28.00 at JPMorgan Chase & Co.

BCE (TSE:BCE) (NYSE:BCE) had its target price reduced by JPMorgan Chase & Co. from C$29.00 to C$28.00 in a note issued to investors on Thursday,BayStreet.CA reports. The brokerage currently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s target price points to a potential downside of 11.20% from the company’s previous close.

BCE has been the topic of several other research reports. TD Securities upped their price target on BCE from C$31.00 to C$33.00 and gave the company a “hold” rating in a research note on Friday, February 7th. Canaccord Genuity Group raised their target price on shares of BCE from C$33.00 to C$33.50 and gave the company a “hold” rating in a research note on Friday, February 7th. Royal Bank of Canada cut their price objective on shares of BCE from C$45.00 to C$41.00 and set a “sector perform” rating on the stock in a report on Wednesday, December 18th. Barclays cut shares of BCE from an “equal weight” rating to an “underperform” rating and dropped their target price for the company from C$41.00 to C$30.00 in a research report on Thursday, January 30th. Finally, Scotiabank reduced their price target on BCE from C$42.00 to C$40.00 and set a “sector perform” rating on the stock in a research report on Friday, February 7th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, BCE has a consensus rating of “Hold” and a consensus price target of C$40.42.

BCE Price Performance

Shares of BCE stock traded up C$0.29 during mid-day trading on Thursday, reaching C$31.53. 2,815,122 shares of the stock were exchanged, compared to its average volume of 3,832,142. BCE has a fifty-two week low of C$30.71 and a fifty-two week high of C$49.13. The company has a market cap of C$28.56 billion, a price-to-earnings ratio of 105.78, a price-to-earnings-growth ratio of 4.67 and a beta of 0.48. The firm has a 50-day simple moving average of C$33.77 and a 200 day simple moving average of C$37.62. The company has a current ratio of 0.62, a quick ratio of 0.43 and a debt-to-equity ratio of 226.73.

About BCE

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.