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TSE:T
This one depends on your time horizon. Q2 was in line. Really trying to do cost-saving. Cut free cashflow guidance, with negative EPS for the next little bit. Nice 7% dividend growth. Expensive PE. Best in the space with core business and other assets, which should be tailwinds. He's more of a buyer than a seller at this point.
The dividend is safe and in fact growing at the fastest rate among Canadian telcos at 5-7% this year. Pays 6.2%. He's about to buy more shares for himself and clients. Good long-term growth ahead because immigration is rising at high levels, a tailwind for Telus. But they're having problems with Telus International, so they lowered guidance. They invested in next-generation technology, good long term but will be lumpy. More competition comes with Shaw-Rogers, but this won't be a huge change. Shares are as cheap as they have been for a long time.
Telecom sector sensitive to rising interest rates (comparable rates with Treasuries).
Sector attractive given recent selloff.
Inflow of immigration into Canada good for business.
Competition with Rogers hard on business.
Prefers BCE.