Telus: Still a buy today

This morning, before the market (TSX) opened, bad news hit the air waves concerning Telus, or more accurately about Telus International (TIXT). The important thing to remember is that Telus (T) is not TIXT, nor is it a wholly owned subsidiary. I bought shares of Telus yesterday at $25.20. Now it is down $.49 from that price but this is not the whole story.

The target price for Telus has dropped a little but the anticipated gain for the coming year is still excellent and investors are being rewarded for their patience with a dividend of approximately 5.8%. The dividend growth rate of about 7% still seems reasonable.

If the market panics and the Telus price continues to weaken, I see myself as a buyer and not a seller.