Since slumping to a 7-year low of $2.60 on June 28th, shares of Telstra have risen over 20% during the last two months and reached $3.26 earlier today.
Part of the improvement in the domestic Telecom sector has stemmed from the merger of TPG and HTA, and the increase in scale for all the local providers.
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In addition, we see TLS having a distinct advantage over its rivals with the 5-G network expanding revenue streams beyond traditional voice and data services.
As such, we believe the share price will continue to trend higher and the current dividend ratio is sustainable. The next technical chart level is just above $3.60.
Telstra
