Better networks fuel Telus’s success

Article Excerpt

Telus’s long-term commitment to improving the speed and capacity of its wireless and Internet networks continues to pay off for investors. That’s especially so during the coronavirus pandemic and the sharp rise in Canadians using their home Internet service to work remotely. The strength of Telus’s networks is reflected in its share price: it has maintained its value since the start of 2020 while the S&P/TSX Composite Index is down 7.0%. We expect this long-time favourite of ours will continue to outperform as it launches its new 5G wireless networks. Telus’s plan to sell shares in its call-centre business should also spur the stock higher. TELUS CORP. $24 is a buy. The company (Toronto symbol T; Conservative Growth and Income Portfolios, Utilities sector; Shares outstanding: 1.3 billion; Market cap: $31.2 billion; Price-to-sales ratio: 2.1; Dividend yield: 4.9%; TSINetwork Rating: Above Average; www.telus.com) is Canada’s third-largest wireless telephone carrier, after Rogers (No. 1) and BCE (No. 2), with 10.28 million subscribers. This business supplies about 50%…

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