12:37 PM EST, 02/14/2025 (MT Newswires) -- Telus' ( TU ) fourth-quarter results were in line with RBC's forecast and 2025 guidance was slightly stronger than expected and certainly the best among the Big 3, notes RBC analyst Drew McReynolds.

While acknowledging some uncertainty over telecom pricing and market expansion in 2025, management expects increased product intensity and multi-product penetration across its subscriber base, small and medium business (SMB) revenue growth, and double-digit growth in high-margin IoT revenues and other new B2B revenues, may potentially shield Telus ( TU ) from broader industry headwinds, McReynolds writes.

Reiterate Outperform. Target increased by $1, to $25.

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