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TELUS Stock Gets A New Hook With Norton Scam Protection

Simply Wall St·10/22/2026 23:41:49
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  • TELUS and Norton previously launched TELUS Scam Protection, bundling scam filtering for calls, texts and emails into new mobility data plans at no extra cost, with existing users able to add the service for $3 per month.
  • The move turns digital fraud prevention into a core feature of TELUS mobility. It aims to deepen customer stickiness through always-on safety tools inside the My TELUS app.
  • Next, the focus shifts to how TELUS Scam Protection could influence the wider investment narrative around cash generation and digital services.

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TELUS Investment Narrative Recap

To own TELUS, you need to be comfortable with a telecom that is refocusing on cash generation while dealing with flattish revenue expectations and current losses. The key short term belief is that the core connectivity and digital units can remain stable enough for cost control, asset sales and lower capital intensity to improve free cash flow.

The biggest risk is that wireless ARPU pressure, slower subscriber momentum or a softer TELUS Digital transition keep adjusted EBITDA closer to the guided decline. Scam Protection matters more for customer stickiness than near term numbers, so its direct impact on the main 2026 cash and leverage catalyst looks limited for now.

The Scam Protection launch lines up with TELUS Digital’s broader push into AI powered customer experience work. That is where the partnership with Parloa becomes relevant. TELUS Digital is acting as an implementation partner for Parloa’s AI agent platform, which keeps it close to enterprise clients that are already spending on automation and customer service tools.

If Parloa deployments scale, they could help offset weakness in legacy TELUS Digital lines that faced churn and impairment. Execution risk stays real because the shift toward higher value CX and AI services takes time, but successful projects would support the thesis that TELUS can grow lower capital intensity digital revenue while working to reduce leverage.

TELUS is currently reported to be generating revenue that analysts describe as fairly flat over the next 3 years. Earnings today are at a loss of CA$919.0 million, and consensus earnings are projected at CA$2.0 billion by 2029, which implies an earnings swing of roughly CA$2.9 billion. TELUS' narrative also points to forecast revenue of CA$20.3 billion and forecast earnings of CA$2.0 billion by 2029.

Uncover why TELUS' fair value indicates a 14% potential upside to its current price, which could narrow quickly.

TSX:T 1-Year Stock Price Chart
TSX:T 1-Year Stock Price Chart

Exploring Other Perspectives

Some of the lowest TELUS analysts focus on AI investment risk instead of dividend and fibre cash relief. They were assuming roughly flat revenue with earnings of about CA$1.4b by 2029, versus CA$2.0b in the baseline view. Scam Protection and the Parloa tie up could shift those expectations, so treat these forecasts as moving pieces to explore, not fixed truth.

Explore 6 other TELUS fair value estimates, including one that indicates up to 7% downside from the current price.

Reach Your Own Conclusion

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