So, what am I to make of the firming/surging Telstra sp? Telstra sp is at "record" levels - actually a record since 2017 (but most market watchers/players don't have strong memory beyond this time and could probably argue that pre-2017 matters are not particularly relevant to business performance now). Is it the result of: (a) improvements in company performance and profitability ? - some recent announcements are good, some "middling" (b) improvements in company strategy ? - is the company likely to "monetise" InfraCo in forseeable future (c) technical improvements ? - eg will SMS to anywhere via satellite open new opportunities and markets (d) macro driven and back to the future ? ie in an environment of reducing interest rates and global market uncertainty, Australian investment money is heading to Australia(home), good franked dividend paying and known quantity TELSTRA ?
It seems to me that (d) is the main driver and buyers can point to a little of (a), (b) and (c) to justify their decision if they need to do so (eg to an investment committee). I don't yet see anything fundamental (from company profitability point of view ) to support TLS sp rise.
What am I missing? getting completely wrong?
TLS Price at posting:
$4.74 Sentiment: Hold Disclosure: Held
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