BCE – A Sigh of Relief

You could almost hear a communal sign of relief today as the Supreme Court of Canada dismissed bondholder objections to the proposed $35-billion deal to privatize BCE. Despite this ruling there is obviously still a lot of doubt on the street as the 30 million shares traded today resulted in only a 5.7% increase in the share price. Personally, I will continue to hold my shares and am speculating that this ruling will solidify the deal in the $41 to $42.75 range. Here is what some of the professional are predicting:

-Troy Crandall at MacDougall, MacDougall & MacTier – $42.75 (80% likelihood)
-Joseph MacKay at Desjardins Securities Inc. – $39.25
-David Lambert at Canaccord Adams – $42.75