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TELUS (TU) Expands its 5G Network to Camrose in Alberta

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Communications technology company TELUS Corp. (TU - Free Report) has expanded its 5G network to Camrose as part of its C$14.5 billion investment in Alberta through 2024.

The Canada-based company supports residents and businesses with crucial network connectivity in today’s digital world. Since 2000, TELUS has invested almost C$240 billion in network infrastructure, operations and spectrum across Canada, including more than C$51 billion in Alberta.

TELUS is on track to provide 70% of Canada’s population with access to its 5G network by the end of this year. The company seeks to expand its 5G network to more than 615 communities across the country by the end of 2021. This includes 136 new communities in Alberta.

TELUS’ shares have gained 15.4% in the past year compared with the industry’s growth of 1%.

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In addition to superfast speed, 5G brings more capabilities over 4G networks like enhanced capacity, low latency and edge computing. 5G is expected to contribute C$150 billion to Canada’s economy over the next 20 years.

TELUS continues to benefit from solid customer additions, thanks to the adoption of its superior connected experiences, innovative product set and premium bundled offerings. The accelerated broadband expansion program is likely to extend its PureFibre and 5G coverage further.

The company is committed to building a better future for the next generation through investments in innovative technologies and sustainable business practices.

TU currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Clearfield, Inc. (CLFD - Free Report) is a better-ranked stock in the telecom space, sporting a Zacks Rank #1. The Zacks Consensus Estimate for its current-year earnings has been revised 8.8% upward over the past 30 days.

Clearfield delivered a trailing four-quarter earnings surprise of 50.8%, on average. It has soared 166.3% in the past year.

Qualcomm, Inc. (QCOM - Free Report) , carrying a Zacks Rank #2 (Buy), is another solid pick for investors. The consensus estimate for current-year earnings has been revised upward by 14.1% over the past 30 days.

Qualcomm delivered a trailing four-quarter earnings surprise of 11.2%, on average. It has appreciated 12.3% in the past year.

Sierra Wireless, Inc. (SWIR - Free Report) also carries a Zacks Rank #2. The consensus mark for current-year earnings has been revised upward by 20.5% over the past 30 days.

Sierra has a trailing four-quarter earnings surprise of 34.2%, on average. The stock has returned 7.9% in the past year.