BCE Inc. (BCE:CA) (BCE)
BCE Inc. has sold its interest in Maple Leaf Sports & Entertainment (MLSE), a prominent sports and entertainment company in Canada, selling its stake to Rogers Communications for $4.7 billion. This transaction marks a significant shift in the ownership landscape of MLSE, which is known for its franchises, including the Toronto Maple Leafs (NHL) and Toronto Raptors (NBA).
Analyst Updates
- TD Securities: Increased target price to CAD 51 from 48; maintained a “Hold” rating.
- National Bank Financial: Raised target price to CAD 52 from 50, maintains Outperform.
- BMO Capital Markets: Increases target price to CAD 51 from 47; maintains a “Market Perform” rating.
- RBC: Increased target price to CAD 53 from 51; keeps Sector Perform rating.
- STA Research: Maintained a “Hold” rating with a target price of CAD 50.
- Canaccord Genuity: Raised target price to CAD 52; maintained “Buy” rating.
Stock Forecast & Analysis
According to forecasts from 14 analysts, the average target price for BCE Inc is CAD 50.71 over the next 12 months, suggesting potential growth from its current level. The consensus rating among these analysts is a “Buy,” indicating a generally positive outlook on the stock.
Stock Target Advisor’s analysis presents a contrasting view, categorizing BCE Inc’s stock as “Bearish.” This assessment is based on a mix of signals—4 positive and 10 negative—highlighting concerns that may affect the stock’s performance.
As of the latest close, BCE Inc’s stock was priced at CAD 48.52. Over the past week, the stock has seen a modest increase of 1.57%, and over the past month, it has risen by 3.34%. Despite these short-term gains, the stock has experienced a notable decline of 11.05% over the last year, raising questions about its long-term stability and market conditions.
