BCE (BCE) Stock Forecast & Price Target

BCE is expected to experience improved free cash flow growth of 7% in 2026, reaching $3.4 billion, alongside a notable 16% growth in free cash flow after lease liabilities, aiming for $2.4 billion. The company is projected to benefit from enhanced performance in both the wireline and wireless segments, with anticipated improvements in postpaid churn and wireless average revenue per user (ARPU) contributing to a more favorable growth outlook. Additionally, BCE's expansion into Western Canada and increased potential in the Enterprise segment are likely to further enhance its revenue and EBITDA growth, solidifying the positive risk profile of the stock.

BCE has experienced a concerning decline in its non-fiber high-speed internet subscriber base, with losses of approximately 4,000 to 5,000 customers per quarter, translating to a decline of 7-9% quarter-over-quarter. Additionally, cash generation is forecasted to reduce leverage by only 0.1x in 2026 on an organic basis, indicating limited financial improvement in the near term post-dividend payments. The potential impact of supply chain issues and economic uncertainty further compounds the challenges facing BCE's wireline segment, obscuring visibility and forecast accuracy for key performance indicators.