ATB Cormark cuts target to CAD 12.00 for TELUS stock

Published on 10/20/2026 at 14:32 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

TELUS posted a CAD 1.84 billion loss on CAD 4.92 billion revenue in the second quarter of 2026. TELUS stock costs EUR 7.44 on October 20, 2026.

Debt reduction remains central

ATB Cormark lowered its target from CAD 13.50 to CAD 12.00 on October 19, 2026.
TELUS reported CAD 4.92 billion in revenue and a CAD 1.84 billion net loss in the second quarter of 2026.
TELUS stock trades at EUR 7.44 at 2:18 p.m. CEST at Lang & Schwarz on October 20, 2026.

TELUS, CA87971M1032, Illustration mit AI erstellt.

TELUS stock (ISIN CA87971M1032) was trading at EUR 7.44 at Lang & Schwarz on October 20, 2026 at 2:18 p.m. CEST. The latest analyst move came on October 19, when ATB Cormark maintained its Hold rating and lowered its target from CAD 13.50 to CAD 12.00, as reported by The Globe and Mail.

Analysts lower their targets

ATB Cormark's move adds to a series of more cautious assessments. MarketScreener reported on October 16 that RBC lowered its target from CAD 15.00 to CAD 14.00 while keeping a Sector Perform rating. The range of targets reflects pressure on earnings and leverage rather than a change in TELUS's core listing, which is on the Toronto Stock Exchange according to Global Banking and Finance Review.

What does the second quarter show?

TELUS reported CAD 4.92 billion in revenue for the second quarter of 2026 and a CAD 1.84 billion net loss, according to the company's investor-relations materials and the reported results summarized by The Globe and Mail. The quarter also included a CAD 2.10 billion non-cash impairment related to TELUS Digital. Operating cash flow reached CAD 1.34 billion in the same period, while adjusted EBITDA was CAD 1.77 billion.

The balance-sheet response is central to the investment case. TELUS reset its quarterly dividend to CAD 0.1875, a 55 percent reduction, and expects the change to generate about CAD 2.70 billion in cumulative cash savings through 2028 for debt reduction, as reported on October 15, 2026 by The Globe and Mail.

Three dated developments

On July 31, 2026, TELUS reported second-quarter revenue of CAD 4.92 billion and a CAD 1.84 billion net loss. On October 14, TELUS Digital announced a partnership with Parloa to implement AI agent technology for enterprise clients, according to MarketScreener. On October 19, ATB Cormark cut its target to CAD 12.00 from CAD 13.50.

Next reporting date

TELUS is scheduled to report its third-quarter 2026 results on November 6, 2026, according to Metacap. That release will give investors a fresh test of subscriber trends, cash generation and the debt-reduction plan.

Stock price and balance sheet

The current market picture combines a EUR 7.44 Lang & Schwarz quote with a CAD 18.4 billion market capitalization on the Toronto Stock Exchange as of October 20, 2026. For investors, the next results must show whether lower distributions and asset monetization can offset the second-quarter loss and impairment.

TELUS was trading at EUR 7.44 at Lang & Schwarz on October 20, 2026 at 2:18 p.m. CEST.

The further course of trading is shown by the continuously updated real-time quote of TELUS stock.