5 Best Canadian Infrastructure Stocks to Buy Now

2. TELUS Corporation (NYSE:TU)

On May 21, 2026, TELUS Corporation (NYSE:TU) announced that it is investing more than $24B over the next five years to expand and enhance its network infrastructure and operations across Ontario. The commitment is part of TELUS’ broader plan to deploy $66B across Canada by 2030 to expand its network infrastructure and operations, fuel homegrown innovation, and support urban and rural communities. Since 2000, TELUS has invested $78B in Ontario in technology and operations.

On May 11, 2026, BMO Capital lowered the firm’s price target on TELUS Corporation (NYSE:TU) to C$19 from C$19.50 and maintained a Market Perform rating on the shares. Also on May 11, Scotiabank lowered the firm’s price target on TELUS to C$20 from C$21.50 and maintained a Sector Perform rating.

Earlier in May, TELUS Corporation (NYSE:TU) reported Q1 adjusted EPS of C$0.23, compared with C$0.26 last year, and revenue of C$4.99B, compared with C$5.02B last year. CEO Darren Entwistle said the company’s focus on operational excellence and cost efficiency helped it deliver customer growth and stable financial performance. TELUS reported total mobile and fixed customer growth of 262,000, driven by 12,000 mobile phone and 229,000 connected device net additions, along with 21,000 internet customer net additions.

TELUS Corporation (NYSE:TU) operates as a telecommunications company in Canada and internationally.