BCE Hits 10-Year Low, Rogers Dips After BMO Turns Sour on Telecom Outlook
- Analyst Casey reduces Rogers price target to C$65 from C$80
- BCE and Quebecor downgraded to market perform from outperform
A Bell Canada store in Toronto. Bell parent BCE Inc.’s share price hit a 10-year low on Tuesday.
Photographer: Christopher Katsarov Luna/BloombergThis article is for subscribers only.
Shares of BCE Inc. tumbled to the lowest in more than a decade and Rogers Communications Inc. suffered its biggest drop of 2024 after BMO Capital Markets published a darker outlook on Canada’s telecom sector.
Analyst Tim Casey slashed his price target on Rogers to C$65, from C$80, and downgraded BCE and Quebecor Inc. Those three companies, along with Telus Corp., are the dominant players in the country’s wireless and cable industry.