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TLS - Telstra News Story

NZD3.85 0.0  0.0%

Last Trade - 16/06/21

Sector
Telecoms
Size
Large Cap
Market Cap £24.12bn
Enterprise Value £33.66bn
Revenue £12.03bn
Position in Universe th / 1941

BUZZ-Australia's Telstra: Jefferies upgrades stock to 'buy', hikes PT

Mon 21st June, 2021 9:42pm
** Brokerage Jefferies raises price target on Telstra
Corporation  TLS.AX  to A$4 from A$3.52, upgrades rating to
'buy' from 'hold' 
    ** Jefferies says the upgrade to buy is not only driven by
co's upcoming divestment of its tower assets, but also due to an
improvement in its underlying business  urn:newsml:reuters.com:*:nRscdH24za
    ** According to a report by the Australian Competition and
Consumer Commission, consumers will be paying more for mobile
phone plans after a price hike by telco giants Telstra, Optus
and Vodafone last year [https://bit.ly/3wPY4P0]  
    ** Says co's move to hike mobile plans could increase its
Average Revenue Per User (ARPU) by 4.3% in the first half of
FY21
    ** Says the threat from NBN Co, which recently proposed to
reduce or abolish connectivity virtual circuit (CVC) prices,
would be limited to TLS since it only represents 6% of NBN's
EBITDA   
    ** We are more confident about TLS' ability to generate
mid-to-high-single-digit EBITDA growth in FY22, and to hit its
target of A$7.5 bln ($5.66 billion) to A$8.5 bln in FY23 to
sustain the 16 cent DPS - Jefferies 
    ** Eight of 12 analysts rate the stock 'buy' or higher,
while three rate it 'hold' and one, 'sell'; their median PT is
A$3.85 - Refinitiv Eikon 


($1 = 1.3263 Australian dollars)

 (Reporting by Tejaswi Marthi in Bengaluru, Editing by Rosalba
O'Brien)
 ((tejaswi.marthi@thomsonreuters.com))
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