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Telstra (ASX:TLS) share price lifts following launch of ‘Telstra Day’

Telstra shares have risen after ‘Telstra Day’.
The post Telstra (ASX:TLS) share price lifts following launch of ‘Telstra Day’ appeared first on The Motley Fool Australia. –

The Telstra Corporation Ltd (ASX: TLS) share price has risen today. The telco has news of a new initiative called ‘Telstra Day’.

What is Telstra Day?

The telco described this new initiative as “one day of unreal deals”. The idea is that consumers can save hundreds of dollars of various pieces of new technology.

Unlike other ‘days’ from different companies, like Afterpay Ltd (ASX: APT), Telstra plans to do a ‘Telstra Day’ every month.

Without going through the whole list of what Telstra is going to offer, the telco said that one part of its will be $500 off the latest smartphones from Apple and Samsung. It isn’t just trying to flog some old tech that it hadn’t been able to get off the shelves yet.

But half of the country is in lockdown…

Telstra has thought of that. It acknowledged that getting to a store can be tricky during state-based health restrictions. The telco is also running the Telstra Day sales on its online site as well. Indeed, the business is doing a free home delivery if consumers spend $100 or more.

Buy now, pay later?

Consumers have the option of paying for the purchase upfront. Or they can pay it off later with their Telstra bill.

The company also has a 7-day price match promise (with certain conditions).

Telstra share price movement

The Telstra share price went up around 0.5% today. Only buyers of Telstra shares today know how much impact Telstra Day had on their decision to buy at the price they did.

Telstra is due to reveal its FY21 result to investors on 12 August 2021 which may have an even bigger impact on the Telstra share price.

The broker UBS currently rates Telstra shares as a hold with a price target of $3.90. It doesn’t see much upside from the current level.

According to the broker, Telstra is expected to generate earnings per share (EPS) of $0.16 per share. That would mean the Telstra share price is valued at 23x FY21’s estimated earnings.

UBS also thinks that Telstra will pay a fully franked dividend yield of $0.16 for the year. That would equate to a grossed-up dividend yield of 6%.

The post Telstra (ASX:TLS) share price lifts following launch of ‘Telstra Day’ appeared first on The Motley Fool Australia.

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More reading

Telstra (ASX:TLS) share price up as government weighs in on Digicel saga
2 buy-rated ASX 200 blue chip shares for investors in August

How do you value the Telstra (ASX:TLS) share price?
FY 2021 results preview: What is built into the Telstra share price?

Leading brokers name 3 ASX shares to buy today

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended AFTERPAY T FPO. The Motley Fool Australia owns shares of and has recommended AFTERPAY T FPO and Telstra Corporation Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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