Telstra – FY21 Guidance

The outlook into FY21 was somewhat disappointing, with the company
guiding to underlying EBITDA of A$6.5-7.0bn, down from 7bn in FY20.

FY23 forecast for EBITDA targeted by Telstra management is A$7.5-8.5bn, this will be required in order to support the $0.16 per share dividend payout.

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We continue to see TLS within a band of $3.10 support and $3.50 resistance.

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