Senior management for BCE Inc. provided an optimistic if cautious outlook for the telecommunications giant's financial performance this year on an earnings call with analysts on Thursday.
Despite a forecast for a tepid economic recovery in the first half of 2010 as well as increasing wireless competition from the Montreal firm, analysts on the call came away bullish on BCE's ability to deliver another hike to its dividend based on its full-year guidance.
"Management and the board remain committed to dividend growth, which we think means a possible dividend increase in mid-late 2010," wrote National Bank Financial's Greg MacDonald in a research note. "If the company can execute at the high end of guidance, then the chance of an increase… is good."
The analyst was confident BCE (BCE/TSX) will, upgrading the stock to a Sector Outperform from Perform with a $32 price target.