What are brokers saying about the Telstra share price?

Brokers are feeling positive about the Telstra share price…

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The Telstra Corporation Ltd (ASX: TLS) share price is having a subdued day on Wednesday.

In afternoon trade, the telco giant's shares are down slightly to $3.91. This means the Telstra share price is now down almost 8% year to date.

In light of this, investors may be wondering if this has left the company's shares trading at an attractive level for an investment.

Is the Telstra share price good value?

The good news is that a number of brokers see plenty of value in the Telstra share price at the current level.

One of those is Ord Minnett, which last week put a buy rating and $4.65 price target on the company's shares. This implies potential upside of 19% over the next 12 months.

In addition, the broker is expecting Telstra to maintain its fully franked 16 cents per share dividend in FY 2022. This equates to a 4.1% yield, stretching the total potential return to a sizeable 23%.

Who else is positive?

Another recent broker note reveals that Morgan Stanley is feeling bullish on the Telstra share price. Its analysts currently have an overweight rating and $4.60 price target on the company's shares.

Morgan Stanley believes that the very positive performance of T-Mobile in the United States is good news for Telstra. That's because both companies are the 5G leaders in their respective markets.

In addition, the broker highlights that fixed wireless broadband is growing ahead of expectations in the US market. This could bode well for Telstra if the Australian market follows suit.

Finally, analysts at Morgans have an add rating and $4.56 price target on the company's shares. Its analysts believe that "under the hood it's looking good" for Telstra.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has positions in and has recommended Telstra Corporation Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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