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Upgrade Alert for TELUS (TU)

By Nick Russo

TELUS (NYSE:TU) was upgraded from Hold to Buy at Desjardins today. The stock closed yesterday at $33.84 on volume of 201,000 shares, below average daily volume of 221,000.

Telus Corporation is a telecommunications company providing a variety of communications products and services. The Company provides voice, data, Internet, and wireless services to businesses and consumers in Canada.

In the past 52 weeks, shares of TELUS have traded between a low of $24.34 and a high of $35.36 and closed yesterday at $33.84, which is 39% above that low price. The 200-day and 50-day moving averages have moved 0.22% lower and 0.57% higher over the past week, respectively.

TELUS (NYSE:TU) has potential upside of 1.8% based on a current price of $33.84 and analysts' consensus price target of $34.46. The stock should find initial support at its 50-day moving average (MA) of $31.16 and further support at its 200-day MA of $30.91.

SmarTrend recommended that subscribers consider buying shares of TELUS on January 28th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $27.10. Since that recommendation, shares of TELUS have risen 24.1%. We continue to monitor TU for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: analyst upgrades/downgrades telus

Ticker(s): TU