Report
Alex Zhao
EUR 147.86 For Business Accounts Only

We Are Relaunching Coverage of Telus With a CAD 40 FVE and Narrow Moat and Stable Trend Ratings

We are relaunching coverage of Telus with a CAD 40 ($31) fair value estimate and narrow moat and stable moat trend ratings. Telus’ profitable and promising wireless business is the envy of its cable rival, Shaw Communications, but we anticipate that in the fixed-line market of western Canada, Shaw’s cost advantage will be pressed against Telus going forward. In the long run, while Telus should continue to earn economic profits, its balance sheet may be stretched thin across spectrum purchase, fi...
Underlying
TELUS Corporation

TELUS is a telecommunications company providing a range of communications products and services, including wireless and wireline voice and data. Data services include: internet protocol; television; hosting, managed information technology, security and cloud-based services; healthcare solutions; and business process outsourcing. As of Dec 31 2017, Co. had approximately 13.1 million subscriber connections, including 8.9 million wireless subscribers, 1.7 million high-speed Internet subscribers, 1.3 million residential network access lines, and 1.1 million TELUS TV® customers.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Alex Zhao

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