Telstra's Excellence in Strategy Execution Appears Priced In
Dow Jones
Aug 14
0129 GMT - Telstra's excellence in strategy execution is now expected and appears to be priced in, Macquarie analysts say. They maintain a neutral rating on the stock despite what they tell clients in a note is a strong fiscal 2026 performance on costs. This discipline underpinned earnings growth despite revenue falling over the 12 months through December, but the analysts point to weak growth in postpaid subscribers and a creep in capital expenditure as reasons for caution. Top-line growth looks increasingly hard for Telstra given the broader market conditions, they say. Macquarie cuts its target price on the stock by 3.4% to 5.02 Australian dollars. Shares are down 0.6% at A$4.81.
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