Canadian Telecom Stocks Poised for Bounceback as Price Battle Abates

Canada’s biggest telecommunication stocks have fallen to multi-year lows as competitive wireless strategies failed to impress investors. A number of analysts say the rout is presenting a good buying opportunity.

The S&P/TSX Composite’s communications index has been the worst group performer in the broader index so far this year, posting a loss of nearly 16% since early January. The index is made up of heavyweight telco names like Rogers Communications Inc. and Telus Corp., whose stocks trade near their 2016 levels, as well as BCE Inc., whose shares hover around their lowest point since 2013.