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TELUS (TU) to Expand PureFibre in Calgary to Bridge Digital Gap

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TELUS Corporation (TU - Free Report) has announced that it is investing C$2 billion to connect more than 90% of homes and businesses in Calgary to its PureFibre network. TELUS’ PureFibre network is recognized as Western Canada’s largest 100% pure fiber-to-the-home network.

The communications technology company has already started connecting some communities in Calgary to the PureFibre network. It expects to cover the majority of households and businesses by the end of 2023.

The company is also launching PureFibre X, which is Canada’s fastest Internet speed tier with upload and download speeds of 2.5 Gbps. The people of Calgary will be the first to access PureFibre X.

TELUS intends to expand this service to PureFibre communities across Alberta and British Columbia in the coming months. The PureFibre network is built with state-of-the-art fiber optics, which allows customers to enjoy ultra-fast and high-capacity Internet connectivity.

TELUS has invested C$51 billion across Alberta since 2000. Last month, it announced plans to invest an additional C$14.5 billion in infrastructure and operations across Alberta through 2024 to support the province.

The PureFibre X Internet service includes the latest Wi-Fi 6, which enables improved connections in homes. TELUS continues to provide the technology that helps bridge the socio-economic divide in the region. This would ensure that all citizens have access to the digital tools that make their lives easier, particularly as they navigate the pandemic.

At the same time, the company is working to build a better future for the next generation through investments in innovative technologies and sustainable business practices.

TELUS’ shares have gained 34.6% in the past year compared with 10.9% growth of the industry.

Zacks Investment ResearchImage Source: Zacks Investment Research

The stock currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the broader sector are Ooma, Inc. (OOMA - Free Report) , ADTRAN, Inc. (ADTN - Free Report) and ATN International, Inc. (ATNI - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Ooma delivered a trailing four-quarter earnings surprise of 65.5%, on average.

ADTRAN delivered a trailing four-quarter earnings surprise of 184.2%, on average.

ATN International delivered a trailing four-quarter earnings surprise of 424.2%, on average.

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