TLS - Citi rates the stock as Sell
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Telstra's disappointing interim update revealed competition is biting and Citi analysts note Telstra’s target to replace the $2-3bn EBITDA impact of the NBN is getting harder and harder.
The analysts do believe Telstra should be able to achieve the bottom of its guidance range for the year, assisted by yet another large payment from the NBN.
Estimates have been reduced. Target price drops to $4.40 from $4.50. Sell rating retained.
Sector: Telecommunication Services.
Target price is $4.40.Current Price is $4.85. Difference: ($0.45) - (brackets indicate current price is over target). If TLS meets the Citi target it will return approximately -10% (excluding dividends, fees and charges - negative figures indicate an expected loss).
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