Morgan Stanley Sticks to Their Buy Rating for Telstra Corporation Limited (TTRAF)

Morgan Stanley reiterated its Buy rating on Telstra Corporation Limited (TTRAF) in a report released today, keeping a price target of A$5.30. The article says analyst Andrew McLeod maintains the stance, with TipRanks describing him as an analyst showing an average return of -2.0% and a 42.96% success rate, and covering the Communication Services sector, including REA Group Ltd, TPG Telecom Limited and CAR Group. It also notes that, more broadly, the Street consensus for Telstra is a Hold rating with an average price target of A$5.29. Current market data cited include a market capitalization of A$55.37 billion and a P/E ratio of 25.05 for TTRAF.