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Barclays analyst Lauren Bonham maintains TELUS (NYSE:TU) with a Equal-Weight and lowers the price target from $11 to $10.
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Telus reported quarterly earnings of $0.11 per share, missing the consensus estimate of $0.13 and down from $0.17 a year ago. The company has underperformed the market significantly, losing 28.5% year-to-date compared to the S&P 500's 7.4% gain. With a Zacks Rank #3 (Hold) rating and the Diversified Communication Services industry in the bottom 25% of rankings, the stock is expected to perform in line with the market going forward.
Approximately 3,000 unionized workers at TELUS across four Canadian provinces have ratified a new four-year, nine-month collective agreement with an 83% majority vote. The deal includes 12.25% total wage increases, pension and benefits stability, improved job protections, GPS tracking limitations, and commitments on work reshoring. The agreement runs until December 31, 2031.
Approximately 3,000 TELUS workers across four Canadian provinces have ratified a new collective agreement with an 83% majority vote. The four-year, nine-month contract includes 12.25% salary increases, pension stability, employment protection, GPS monitoring limits, and relocation commitments. Negotiations concluded five months ahead of the previous contract's expiration.
Canada's 5G device market is projected to grow from USD 10.0 billion in 2026 to USD 15.2 billion by 2031 at a CAGR of 8.7%, driven by mid-band spectrum deployment, 5G-Advanced technology, fixed wireless access, and enterprise IoT adoption. Key growth drivers include spectrum rollout, regulatory competition measures, rural connectivity initiatives, and carrier innovation, though supply chain dependencies and delayed spectrum availability in some markets present challenges.