National Bank cuts target for TELUS stock from CAD 15.00 to CAD 13.00
Published on 10/06/2026 at 00:53 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS
National Bank cut its target for TELUS stock (ISIN CA87971M1032) from CAD 15.00 to CAD 13.00 on October 1, 2026, according to Stock Analysis. The change adds to a difficult investment case after TELUS reached a new 52-week low of CAD 11.36 on October 5, 2026.
Dividend reset changes the case
According to The Globe and Mail, TELUS reduced its quarterly dividend to CAD 0.1875 per share in the second quarter of 2026, a 55 percent cut from the previous CAD 0.42. The annualized payout is now CAD 0.75, shifting the telecom company's capital allocation toward debt reduction and network investment.
The same second-quarter report showed service revenue down 1 percent to CAD 4.4 billion and adjusted earnings before interest, taxes, depreciation and amortization down 2 percent to CAD 1.8 billion. TELUS also recorded a CAD 1.8 billion net loss after a CAD 2.1 billion non-cash impairment tied to TELUS Digital, according to The Globe and Mail.
Debt remains the key test
TELUS ended the second quarter of 2026 with net debt at 3.5 times adjusted earnings before interest, taxes, depreciation and amortization. Management is targeting leverage of 3.0 times or lower by the end of 2028, while 2026 guidance calls for service revenue between flat and negative 2 percent and adjusted EBITDA down 2 to 4 percent, as reported by The Globe and Mail.
The operating picture is mixed rather than uniformly weak. Mobile network revenue increased 1 percent to CAD 1.7 billion in the second quarter, while TELUS added 17,000 mobile phone subscribers and 20,000 internet customers. Those figures provide a counterweight to the impairment and the lower payout, but they do not remove the balance-sheet test highlighted by the target reduction.
Stock reaches a new yearly low
TELUS stock reached a new 52-week low of CAD 11.36 on October 5, 2026, with the same report placing the prior close at CAD 11.47. The stock's Canadian listing is TELUS Corporation on the Toronto Stock Exchange under ticker T, and its market data identify the company with ISIN CA87971M1032.
TELUS stock facts
- Company: TELUS Corporation
- ISIN: CA87971M1032
- WKN: 918447
- Ticker: T
- Primary exchange: Toronto Stock Exchange
- 52-week low: CAD 11.36 (October 5, 2026)
- Market capitalization: CAD 17.6 billion (October 5, 2026)
- Sector / Industry: Communication Services / Integrated Telecommunications Services
