Company News

BUZZ-TD Securities upgrades BCE to 'buy'

** TD Securities upgrades telecom services provider BCE Inc to “buy” from “hold”, citing recent weakness in stock

** Rival Rogers Communications announced earlier this month that it would launch unlimited wireless data plans ; BCE’s Bell Mobility followed suit

** Shares of BCE have fallen ~4% since Rogers’ announcement on June 12

** Brokerage says near-term uncertainty about average revenue per user (ARPU) is more than offset by mid-to-long term benefits of customers using more data

** The timing is right for unlimited data in Canada - Brokerage

** 7 of 19 brokerages rate the stock “buy” or higher, 10 “hold” and 2 “sell”; median PT is C$61

** Upto Monday’s close, stock had risen ~10% this year (Reporting by Debroop Roy in Bengaluru)