Money Telstra adds a billion on buy rating

13:32  06 december  2017
13:32  06 december  2017 Source:   MSN

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Telstra shares jumped after analysts from Deutsche Bank upgraded the telco's rating to a buy . Telstra shares climbed as high as .52 on Monday before ending the day eight cents higher at .50, the highest close since early November and adding almost a billion dollars to the telco's market

Telstra 's shares have hit a one-month high after analysts upgraded the telco to a buy rating , saying the temporary halt of the rollout of the national broadband network will be "modestly financially positive". NBN Co announced the short-term suspension earlier last week saying it will.

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Telstra's shares have hit a one-month high after analysts upgraded the telco to a buy rating, saying the temporary halt of the rollout of the national broadband network will be "modestly financially positive".

Telstra shares climbed as high as $3.52 on Monday before ending the day eight cents higher at $3.50, the highest close since early November and adding almost a billion dollars to the telco's market capitalisation.

The recovery followed lows that continued at the end of last week when the telco cut full-year earnings and revenue guidance due to the impact of NBN Co halting the rollout of hybrid coaxial-fibre (HFC) connections this month.

The communications giant reduced its 2017/18 revenue estimate by $700 million, and forecasts full-year revenue to be between $27.6 billion and $29.5 billion.

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  Telstra adds a billion on buy rating © Carla Gottgens/Bloomberg It said earnings will likely be $600 million lower, and between $10.1 billion and $10.6 billion.

But Deutsche Bank analysts on Monday said lower NBN costs to connect, lower NBN network payments and retention of wholesale income would partially offset reductions to Telstra's disconnection and infrastructure and commercial contracts in the short-term.

Deutsche Bank also reaffirmed expectations for a dividend of 22 cents per share for the 2018 financial year.

"We calculate the company could payout 80 per cent of core earnings, 70 per cent of recurring NBN DA income and 75 per cent of net-one off NBN income to provide shareholders with a 22c dividend," Deutsche Bank said.

"TLS (Telstra) has indicated the NBN delay will be modestly financially positive over the full NBN roll-out."

NBN Co announced the short-term suspension earlier last week saying it will allow the company time to work on measures to make connecting and using the service better, and improve its reliability.

This was expected to have a flow-through effect in delaying payments Telstra receives from NBN Co for connections using its network and had dragged the telco's shares to a more than five-year low of $3.34.

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