Business
Here’s why this broker says the Telstra (ASX:TLS) share price is cheap
The Telstra Corporation Ltd (ASX: TLS) share price may be edging lower today, but one leading broker believes it could be going a lot higher from here.
In afternoon trade, the telco giant’s shares are down slightly to $3.11.
Who is bullish on Telstra?
According to a note out of Goldman Sachs this morning, the broker has been looking into the telco market and remains positive on Telstra’s prospects.
As a result, its analysts have retained their buy rating and $3.75 price target on the company’s shares.
This price target implies potential upside of 20% for its shares over the next 12 months excluding dividends. If you include Goldman’s forecast for a 16 cents per share dividend, this potential return stretches to almost…
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