Zacks Investment Research upgraded shares of Telstra (OTCMKTS:TLSYY) from a sell rating to a hold rating in a research note issued to investors on Thursday, reports.

According to Zacks, “Telstra is Australia’s principal telecommunications company, one of Australia’s largest corporations and one of the best-known brands in the country. Telstra’s fixed telephone network extends across the nation, serving virtually all homes and a substantial majority of Australian businesses. Its mobile networks cover the area in which 91% of Australia’s population lives. “

Several other research analysts also recently commented on TLSYY. UBS Group downgraded shares of Telstra from a buy rating to a neutral rating in a research note on Monday, July 1st. Sanford C. Bernstein downgraded shares of Telstra from an outperform rating to a market perform rating in a research note on Wednesday, August 21st.

Shares of OTCMKTS TLSYY opened at $12.30 on Thursday. Telstra has a 52 week low of $9.52 and a 52 week high of $13.67. The firm’s fifty day moving average is $12.66 and its 200 day moving average is $12.47. The company has a market cap of $29.36 billion, a price-to-earnings ratio of 19.52, a PEG ratio of 5.13 and a beta of 0.75.

About Telstra

Telstra Corporation Limited, together with its subsidiaries, provides telecommunications and information services to businesses, governments, communities, and individuals in Australia and internationally. It operates in four segments: Telstra Consumer and Small Business, Telstra Enterprise, Telstra Operations, and Telstra Wholesale.

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