BMO downgrades Shaw due to "accelerating" threat from Telus' Optik TV

TORONTO - BMO Capital Markets has downgraded its investment rating on Shaw Communications from outperform to market perform, based on the growing competitive threat from Telus, which could eventually capture one third of the B.C.-Alberta TV subscription market, says the bank.“We are growing increasingly concerned with Shaw's ability to withstand competitive pressures from Telus, specifically its Optik TV service,” writes Tim Casey, cable and media analyst at BMO Capital Markets, in his note to clients.He cautions that Telus has the financial scale and strategic incentive to remain aggressive with marketing promotions this year and next, particularly since Shaw is not...