The Telstra Corporation Ltd (ASX: TLS) share price has climbed almost 4% in a month, but could it go even higher?
The Telstra share price has ascended 3.66% since market close on 7 March.
In today's trade, the company's shares jumped 0.76% to finish the day at $3.96. In contrast, the S&P/ASX 200 Communication Services Index (ASX: XTJ) dropped 0.45% today.
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Is the telco a buy?
The Telstra share price is a buy, according to the team at Morgans. The broker placed an add rating on the telco's shares and a $4.55 price target. This is 14.9% more than the share price at today's close.
Successful implementation of the company's transformation T22 strategy and T25 strategy are underpinning this positive outlook, my Foolish colleague James reported.
Morgans believes Telstra shares are undervalued on a "sum of the parts basis". The analyst added: "Sector dynamics look positive and value realisation is possible."
Morgans is predicting Telstra to pay a fully franked dividend of 16 cents per share in FY 2022 and FY 2023.
Meanwhile, Goldman placed a neutral rating on the telco recently with a price target of $4.30, my Foolish colleague Bernd reported. Goldman noted a network sharing agreement Telstra signed with TPG Telecom Ltd (ASX: TPG) in late February. Under the agreement, Telstra will provide TPG with access to 3,700 of its mobile network assets Analysts said:
TPG is paying for access to a significant portion of TLS regional coverage. This is driving incremental wholesale earnings for TLS, improving the quality/speed of its metro and regional networks.
Another factor that could impact the Telstra share price in April is the transition to a new chief executive officer. Telstra recently appointed Vicki Brady to take over from outgoing CEO Andy Penn on 1 September. Brady will work with Penn over the next few months to prepare for the top gig.
Brady is not new to Telstra. She joined the company in 2016 and has served as the chief financial officer since July 2019. Penn also joined Telstra as a chief financial officer in 2012 and took over the top job three years later.
Telstra's T25 strategy was announced in September 2021. At the time, Penn told investors: "If T22 was a strategy of necessity, T25 is a strategy for growth."
Telstra share price snapshot
The Telstra share price has surged nearly 17% over the past 12 months, but it has dropped 5% year to date.
For perspective, the benchmark S&P/ASX 200 Index has returned 7.4% over the past year.
Telstra has a market capitalisation of more than $46 billion based on its closing share price today.
