Why Has Goldman Sachs Given BCE (TSE:BCE) a $65.00 Price Target
In an analyst research report revealed to clients on Friday, 4 December, analysts at Goldman Sachs commenced coverage coverage for BCE (TSE:BCE) shares. The firm has decided to set a Buy rating along with a $65.00, adding 14.00% to the target.
From a total of 13 analysts covering BCE Inc. (TSE:BCE) stock, 9 rate it a ”Buy”, 1 a “Sell”, and 8 a ”Hold”. This means that 50% of the ratings are positive. The highest target price is $46.4 while the lowest target price is $39.67. The mean of all analyst targets is $43.27 with a -0.91% below today’s ($57.02) stock price. BCE Inc. was the topic of 16 analyst reports since July 24, 2015 according to the firm StockzIntelligence Inc. Goldman Sachs initiated shares on December 4 with “Buy” rating. TD Securities upgraded BCE stock in a recent report from September 2 to “Buy” rating. Finally, Barclays Capital maintained the stock with “Outperform” rating in a report issued on an August 28.
The stock increased 0.12% or $0.07 on December 4, striking $57.02. Approximately shares of stock traded hands. BCE Inc. (TSE:BCE) has risen 6.02% since May 4, 2015 and is uptrending. It has outperformed by 7.10% the S&P500.
BCE Inc. is a communications company. The company has a market cap of $48.43 billion. The Firm provides residential, business and wholesale clients with a range of solutions to all their communications needs, including wireless, high-speed Internet, Internet protocol television and satellite TV, business Internet protocol (IP) broadband, and information and communications technology (ICT) services. It has 18.71 P/E ratio. The Company’s divisions include Bell Wireless, Bell Wireline and Bell Media.
According to Zacks Investment Research, “BCE, Inc. is Canada’s largest communications company. Through their operations in communications services, they provide residence and business customers in Canada with wireline and wireless communications products and applications, satellite communications and direct-to-home television services, systems integration expertise, electronic commerce solutions, Internet access and high-speed data services, and directories. Their shares are listed in Canada, the United States and Europe. BCE Inc. is headquartered in Montreal, Canada.” Get a free copy of the Zacks research report on BCE Inc. (BCE).