Business
Why this broker is calling Telstra (ASX:TLS) shares a buy today // Motley Fool Australia
The Telstra Corporation Ltd (ASX: TLS) share price has had a pretty pleasant few weeks of late. On 30 October, just under 2 weeks ago, Telstra shares were plumbing new depths, drifting as low as $2.66 a share. That price was a new 52-week low and was dangerously close to an all-time low for Telstra. This means a lot when a company has been on the market for more than 2 decades.
But what a difference 2 weeks can make. Today, the Telstra share price is trading at $3.12 at the time of writing, a good 16% higher than 30 October’s levels. In fact, Telstra shares are up 11.2% over just the past week, and up 4.4% since market close on Wednesday.
No doubt Telstra shareholders will be pleased with this news, but a major broker reckons…
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