Analysts now set TELUS’s fair value estimate at CA$21.38, compared with CA$21.26 previously, reflecting updated assumptions for the discount rate, modest revenue growth, profit margin and future P/E levels.
What’s in the News
- TELUS launched the SmartHome Assistant, described as the world’s first smart home AI assistant with Generative UI, designed to unify more than 2,000 device models into a single interface for SmartHome+ customers across Canada (Product-Related Announcements).
- TELUS and Fortanix introduced a Confidential AI solution on NVIDIA infrastructure at the TELUS Sovereign AI Factory, aimed at keeping sensitive AI workloads encrypted and within Canadian jurisdiction for regulated sectors such as healthcare, finance and government (Strategic Alliances).
- TELUS and Xanadu Quantum Technologies signed an MOU to explore sovereign hybrid quantum classical computing infrastructure in Canada, including a potential quantum data centre integrated with TELUS controlled infrastructure (Client Announcements).
- TELUS entered a commercial agreement with AST SpaceMobile to support space based cellular broadband across remote parts of Canada, with TELUS investing in ground infrastructure and taking an equity stake in AST SpaceMobile (Strategic Alliances).
- TELUS announced a CEO transition. Long serving CEO Darren Entwistle is set to retire on June 30, 2026, and Victor Dodig, currently an independent director and former CIBC CEO, has been appointed CEO effective July 1, 2026 (Executive Changes).
Valuation Changes
- Fair Value Estimate: CA$21.26 to CA$21.38, a small upward adjustment in the modelled valuation.
- Discount Rate: 7.32% to 7.38%, reflecting a slightly higher required return assumption.
- Revenue Growth: 2.93% to 2.93%, with only a minimal change in the projected growth rate.
- Net Profit Margin: 7.60% to 7.60%, showing a very small refinement to the margin assumption.
- Future P/E: 26.09x to 26.28x, indicating a modestly higher multiple applied to future earnings.
