BCE stock absorbs a lower National Bank target at C$36.00

Published on 10/06/2026 at 12:26 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

BCE stock carries a Moderate Buy consensus from 13 analysts as of October 5, 2026. The average target is C$37.46, with a C$33.00 to C$43.00 spread.

BCE, CA05534B7604, Illustration mit AI erstellt.

BCE (ISIN CA05534B7604) was last at USD 19.74 on the NYSE on October 5, 2026 at 4:00 p.m. ET, placing the stock 0.97 percent above its 52-week low of USD 19.55. The latest analyst action came from National Bank Financial on October 1, when it cut its target from C$38.00 to C$36.00 while retaining an Outperform rating, according to MarketBeat.

Target cut meets operating progress

The target reduction contrasts with BCE's latest operating update. In Q2 2026, revenue increased 1.5 percent year over year, adjusted EBITDA grew 1 percent, and adjusted EPS rose CAD 0.02 to CAD 0.65, according to Yahoo Finance in its BCE Q2 2026 earnings transcript.

The same quarter produced an adjusted EBITDA margin of 43.8 percent and more than CAD 1 billion of free cash flow. Postpaid churn improved four basis points year over year to 1.02 percent, giving the wireless business a measurable counterweight to the cautious target revision.

Consensus stays above the share price

MarketBeat lists a Moderate Buy consensus based on 13 analyst ratings. The breakdown is 8 Buy ratings, 4 Holds and 1 Strong Buy, while the average 12-month target is C$37.46, with a high of C$43.00 and a low of C$33.00, according to MarketBeat.

The consensus is published in Canadian dollars, whereas the reference quote here is the NYSE price in U.S. dollars. That currency split makes the target range a directional indicator rather than a direct percentage comparison with the NYSE quote.

AI infrastructure adds a new angle

BCE also announced a September 29 memorandum of understanding with Cisco to explore sovereign AI infrastructure in Canada. The collaboration combines Bell's data centers, networks and operations with Cisco's AI and security technologies, according to StockTitan, which reproduced the company release.

For investors, the central tension is visible in the numbers: BCE is building growth businesses while the latest quarter showed only 1.5 percent revenue growth and a 1 percent adjusted EBITDA increase. The Q2 margin of 43.8 percent and churn rate of 1.02 percent therefore matter as much as the analyst target revisions.

BCE stock stays near its yearly low

BCE stock was last at USD 19.74 on the NYSE on October 5, 2026 at 4:00 p.m. ET, with a daily change of 0.05 percent. Its 52-week range was USD 19.55 to USD 26.52, while market capitalization stood at USD 18.4 billion and trading volume reached 3,975,670 shares.