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TU

Telus Corp

NYSE: TU · COMMUNICATION SERVICES · TELECOM SERVICES

$12.21
-0.97% today

Updated 2026-04-29

Market cap
$19.06B
P/E ratio
23.04
P/S ratio
0.94x
EPS (TTM)
$0.53
Dividend yield
13.40%
52W range
$12 – $16
Volume
5.8M
OverviewPrice TargetsFinancialsValuationInsidersEarnings

Telus Corp (TU) Financial Forecast & Price Target 2030

Research-backed projections from analyst consensus, management guidance, and sector analysis.

Price target summary

Current
$12.21
Consensus
$17.63
+44.39%
2030 Target
$199.33
+1532.51%
DCF
$50.79
+71.96% MoS
4 analysts:
1 Buy2 Hold3 Sell

Management guidance

CEO Darren Entwistle (retiring June 2026, succeeded by Victor Dodig) stated '$2 Billion in AI Revenue by 2028' as a key target for investors to remember. Company established 'compelling and industry-best 2026 financial targets' and provided three-year free cash flow growth guidance, indicating confidence in sustained revenue expansion driven by AI/digital services and customer growth.

Sources: Management guidance, analyst consensus, sector analysishigh confidence

Revenue & price projection

Actual revenue Projected revenue Base case Bull to bear range
Bull case (2030)
$331.79
$25.9B Rev × 20x P/S
Base case (2030)
$199.33
$25.9B Rev × 12x P/S
Bear case (2030)
$132.46
$25.9B Rev × 8x P/S

Financial forecast — research-backed

Metric2023202420252026 (E)2027 (E)2028 (E)2029 (E)2030 (E)
Revenue$20.0B$20.1B$20.5B$21.4B$22.2B$23.3B$24.5B$25.9B
Revenue growth—0.7%1.8%5.2%3.6%5.0%5.2%5.5%
EPS$0.70$0.74$0.66$0.95$1.12$1.35$1.58$1.82
P/S ratio———12.0x12.0x12.0x12.0x12.0x
Implied price———$164.61$171.04$178.75$187.76$199.33

Catalysts & risks

Growth catalysts
+ AI revenue expansion targeting $2B by 2028 (CEO guidance)
+ TELUS Digital growth and international expansion driving higher-margin services revenue
+ SmartHome AI assistant and connected device ecosystem (2,000+ device integration)
+ Quantum computing infrastructure partnership with Xanadu (sovereign Canadian platform)
+ Satellite broadband expansion via AST SpaceMobile partnership for remote coverage
+ Leadership transition to Victor Dodig (May 2026) with potential strategic acceleration
+ Record free cash flow generation supporting dividend and strategic investments
Key risks
- Core Canadian telecom business showing minimal growth (0.67% in 2024, 1.03% in 2025) with ongoing network saturation
- TD Securities and JP Morgan recent downgrades signal analyst caution on valuation and growth trajectory
- Competitive pressure in Canada from Rogers and BCE with similar margin pressures
- Cybersecurity incident (ShinyHunters breach in March 2026) may impact customer trust and spending
- Workforce reduction of 2,800 Canadian jobs in 2025 suggests cost-cutting may offset revenue growth
- High debt/equity ratio (1.99) and elevated payout ratio (227%) limit financial flexibility
- Macro slowdown could reduce enterprise/consumer spending on digital services and connectivity upgrades

Methodology

Telus Corp's forward estimates are derived from AI-powered research synthesis combining analyst consensus from 4 Wall Street analysts, management guidance from the latest earnings call, and sector growth forecasts from industry research. Revenue and EPS projections use analyst consensus where available and conservative extrapolation with growth deceleration for outer years. Price targets are calculated using a tiered Price-to-Sales (P/S) methodology, where the P/S multiple is determined by the projected revenue growth rate.

WallStSmart proprietary research model · Not financial advice · Past performance is not indicative of future results · Last researched: April 7, 2026.