01:29 PM EDT, 04/04/2024 (MT Newswires) -- UBS believes Telus ( TU ) also saw elevated competition in Q1 across wireless and wireline but continued to benefit from efficiency gains. UBS is looking for 1.2% revenue and 3.7% EBITDA growth in Q1 (largely in-line with the street).

In wireless, Telus ( TU ) is expected to add 37K total phone subs (32K prior; 47K a yr ago) as healthy gross add growth (UBSe +10% yoy vs. +17% in Q4) helps offset elevated churn (+10 bps yoy vs. +18 bps last qtr).

In wireline, UBS is looking for 28K broadband net adds, down from 35K a year ago, largely driven by competition from Rogers/Shaw. Also looking for 7K video and 20K security adds vs. 9K/22K last year.

UBS is lowering 2024 revenue estimate by ~1%, while maintaining EBITDA growth at 6%, reflecting low-end of management guidance.

Price: 21.76, Change: +0.12, Percent Change: +0.55