BCE stock fell 2.5 percent as Bell expands sovereign AI plans

Published on 10/07/2026 at 05:09 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

BCE stock was last quoted at CAD 28.25 on October 1, 2026, close to its 52-week low. Q2 revenue rose 1.5 percent as Bell expanded its AI strategy.

BCE, CA05534B7604, Illustration mit AI erstellt.

BCE stock was last quoted at CAD 28.25 on the Toronto Stock Exchange on October 1, 2026, only CAD 0.11 above its 52-week low of CAD 28.14. The latest company event is Bell's sovereign AI agreement with Cisco, announced on September 29, 2026, which adds a new infrastructure angle to BCE's turnaround strategy.

Bell adds a sovereign AI platform

According to Bell Canada on September 29, 2026, Bell and Cisco signed a memorandum of understanding covering sovereign AI infrastructure for Canadian organizations. The plan combines Bell's data centers, connectivity and operating capabilities with Cisco's AI, security and infrastructure-management technologies.

The announcement fits BCE's wider Bell AI Fabric strategy. In its Q2 2026 earnings call, management said the Saskatchewan project has a 300-megawatt facility under construction and that 335 megawatts of capacity had been contracted. First-phase operations remain planned for the first half of 2027, according to Yahoo Finance on August 6, 2026.

Q2 growth remains measured

BCE's Q2 2026 consolidated revenue increased 1.5 percent year over year, while adjusted EBITDA grew 1 percent and the adjusted EBITDA margin stood at 43.8 percent. Adjusted EPS reached CAD 0.65, up CAD 0.02 from the prior-year quarter, while free cash flow exceeded CAD 1 billion, according to Yahoo Finance.

The operating mix is shifting toward higher-growth businesses. Bell Media revenue increased 8.9 percent and adjusted EBITDA rose 3.8 percent in Q2 2026, while Crave subscribers grew 23 percent year over year to 5.1 million. That contrast matters because the consolidated business is still growing at a measured pace, even as media and AI-related activities provide stronger individual growth rates.

Targets remain above the share price

According to MarketBeat on October 1, 2026, National Bank Financial cut its BCE target from CAD 38 to CAD 36 while keeping an Outperform rating. The same overview showed a Moderate Buy consensus and an average target of CAD 37.46 from 13 analysts, with one Strong Buy, eight Buy and four Hold ratings.

At CAD 28.25, the average consensus target lies 32.6 percent above the October 1 price. National Bank's CAD 36 target lies 27.4 percent above that price, while BCE's 12-month high was CAD 36.25. The valuation gap reflects both the appeal of the AI and fiber strategy and the market's continuing focus on leverage, capital spending and telecom competition.

BCE stock stays near yearly low

BCE stock traded at CAD 28.25 on the Toronto Stock Exchange on October 1, 2026, after falling 2.5 percent during that session. The quote came with a volume of 2,845,705 shares and a market capitalization of CAD 26.34 billion.