BCE, Rogers, and Quebecor shares hit 10-year lows due to BMO Capital Markets' negative outlook on Canada's telecom sector.
BCE and Rogers Communications shares hit 10-year lows after BMO Capital Markets published a negative outlook on Canada's telecom sector. Analyst Tim Casey downgraded BCE and Quebecor Inc., and lowered his price target on Rogers to C$65 from C$80. The analyst expects growing competition and lower cable revenue to pressure Rogers' core sales in the third quarter. BCE, Rogers, and Quebecor, along with Telus Corp., are the dominant players in Canada's wireless and cable industry.
April 02, 2024
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