TLS – Macquarie rates the stock as Neutral

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Macquarie expects competition to remain intense across mobile and fixed telecoms.

Competitive headwinds and the NBN roll-out continue to affect Telstra’s earnings growth and create a challenging operating environment, along with the impending entry of TPG ((TPM)) into the mobile market.

Following the recent rally, the broker downgrades to Neutral from Outperform. Target is $3.70.

Sector: Telecommunication Services.

Target price is $3.70.Current Price is $3.71. Difference: ($0.01) – (brackets indicate current price is over target). If TLS meets the Macquarie target it will return approximately 0% (excluding dividends, fees and charges – negative figures indicate an expected loss).

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