Since posting an intraday low of $2.60 on June 29th, shares of TLS have rebounded smartly and reached $3.40 in late August.
Last week’s market volatility has dampened investors interest in the stock over the last few days but, at $3.10, the share price is still 20% above the June low.
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Tomorrow’s AGM will be a big test for bullish investors.
In focus will be the Telco giant’s “quantitative based” executive salary and bonus plan, as well as earnings updates across the company’s spectrum.
Given TLS’s target of 45% digital sales growth by 2021, we like the long side of the stock with a near-term target of $3.60.
Telstra
