Analysts at TD Securities and CIBC Capital Markets lowered their price targets on TELUS Corp. (T.TO) to $21 from $25, and to $24 from $25, respectively.

TD analyst Vince Valentini maintained a Buy rating on shares of the Canadian communications technology company.

"We expect some volatility for T shares until there is certainty on potential asset sales (seems unlikely over the next 1-2 months, but we are optimistic over 6-12 months), and until the incoming CEO provides some clarity on the dividend," Valentini said in a note to clients.

"We now model a 30% dividend reduction in 2027, but even with that we see enough upside over 12 months to retain our Buy rating," the analyst said.

CIBC analyst Stephanie Price maintained an Outperformer rating on the stock.

"...TELUS continues to execute against its three-year strategic plan, with the TELUS Health monetization process ongoing, deleveraging continuing, and the company executing on its base business, with Q4 wireless ARPU 80 bps above the Street," Price said in a note to clients.

(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)