With few surprises expected at Telstra's annual result announcement in August, Bell Potter analyst Chris Savage is thinking about the Australian company's prospects for capital management. Savage tells clients in a note that the telecommunications provider's fiscal 2027 guidance is likely to be equally unremarkable relative to expectations, leaving its scope for buybacks as the key focus for investors. He reminds readers that Telstra has flagged dividend growth as a priority, so reckons that a A$750 million buyback is probably about what Telstra can afford. Bell Potter keeps a hold rating on the stock with an unchanged target price of 5.10 Australian dollars. Shares are down 1.2% at A$5.10. (stuart.condie@wsj.com)
Dow Jones Newswires
Telstra's Buyback Capacity Likely to Be a Key Focus — Market Talk
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With few surprises expected at Telstra's annual result announcement in August, Bell Potter analyst Chris Savage is thinking about the Australian company's prospects for capital management. Savage tells clients in a note that the telecommunications provider's fiscal 2027 guidance is likely to be equ…