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Why Did TELUS International Plunge 18%? Cormark Downgrade, Price Hike
Generated by AI AgentAinvest Movers Radar
Thursday, Apr 10, 2025 7:08 am ET1min read
On April 10, 2025,
International's stock experienced a significant drop of 18% in pre-market trading, sparking concerns among investors and analysts alike.One of the key factors contributing to the stock's decline was the downgrade by Cormark, which revised its rating on TELUS shares from "moderate buy" to "hold" in a recent research report. This change in rating likely influenced investor sentiment, leading to the sharp decrease in stock price.
Additionally,
Securities adjusted its price target for , increasing it from $3.75 to $4.00 while maintaining a "hold" rating. This adjustment, while positive, did not seem to offset the impact of the downgrade by Cormark.TELUS Corporation also announced a price increase for customers still on 3G plans, adding a monthly $3 charge. This move, aimed at encouraging customers to upgrade to 4G LTE or 5G, could have implications for the company's customer retention and overall revenue.
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