TELUS Corp

T: XTSE (CAN)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	CAD 96.00	Vzcyyt	Jlscntnm

Telus Earnings: Focusing on Profitability Amid Continuing Competition

Samuel Siampaus

Aug 2, 2024

Telus posted decent second-quarter 2024 results, with strong subscriber additions in both its mobile and fixed services. The firm continues to focus on cost control and margin improvement. Although the near-term picture remains challenging due to heightened competition, we think Telus remains in a good position to benefit from its fiber network investment and expand revenue growth and cash flow over the long term. We’re maintaining our CAD 33 fair value estimate and believe shares are undervalued.

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