I was wondering if the last release of Ubuntu Touch was a long term support (LTS) version, on behalf of all the people who have bought tablets or phones and want to keep them going.
Ubuntu touch will stop receiving updates after June 30, 2017. So, no it is really no LTS in any meaningful way.
This https://ubports.com/ rather than canonical is a last hope for people who believed and invested in the idea, but it remains to be seen if this is a viable project.
All devices running Ubuntu Touch will continue to function as normal after that, but no further updates will be available.
Developers can continue updating their apps and users can continue to download and install updates of applications until the end of 2017.