Analyst upgrades BCE to 'outperformer' amid telecom sector stock rout

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Analyst upgrades BCE to 'outperformer' amid telecom sector stock rout
Free Cash FlowDividend GrowthCompetitive Environment
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The upgrade comes after BCE's stock plummeted to its lowest intraday level in more than 10 years earlier this month.

) has lost billions in market value over the last year, one analyst has upgraded the company's stock to "outperformer" and does not expect changes to its dividend in 2024.

The Canadian telecommunications sector has struggled in the wake of higher interest rates and heightened competition, with shares of BCE hit particularly hard. BCE's stockShares of BCE were trading up one per cent on Tuesday, and are down around 13 per cent this year. "We expect dividend growth to continue to be a longer-term focus given the pace of growth amid a more competitive environment and continued fibre rollout, and we would not be surprised to see dividend growth adjusted post 2024."

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