The past two months have been rather kind to the Telstra Corporation Ltd (ASX: TLS) share price. Back on 14 June, the veteran ASX 200 telco was going for $3.75 a share.
Today, the Telstra share price closed at $4.10, having recorded a slight gain of 0.24% for the day. But the company's shares rose as high as $4.12 earlier in this Thursday's session.
That means that Telstra has gained a healthy 8.8% over the past two months. In fact, $4.12 a share is the highest Telstra has traded at since January.
And yet, we are still a long, long way from Telstra's all-time highs.
It's hard to imagine today, but there was a time when Telstra shares were priced at more than $8 each. That was way back in the late 1990s, just following the telco's listing on the ASX following its privatisation.
Even though that was more than two decades ago, the fact remains that Telstra shares are more than 50% off these all-time highs.
It's fairly hard to imagine that the Telstra share price is heading back to those halcyon days any time soon. But we can still see if Telstra shares are a buy today.
Is the Telstra share price a post-earnings buy?
One ASX broker who indeed thinks Telstra is a buy is Morgans. As my Fool colleague James covered this week, Morgans was pleased with Telstra's recent FY22 results.
The broker retained an add rating on Telstra shares and lifted its 12-month price target to $4.60. If that came to pass, it would see investors enjoy an upside of 12.2% from the current levels.
Another ASX expert picking Telstra as a winner is Ord Minnett senior investment advisor Tony Paterno.
As my Fool colleague Tony covered on Tuesday, Paterno also liked what Telstra had to say in its earnings report. He lauded the dividend increase to 8.5 cents per share for one thing.
Paterno also noted the following:
Telstra may soon monetise its InfraCo fixed business once the legal separation is complete in October 2022.
Recent transactions highlight that demand for high quality telecommunication assets, with long-term contracts and predictable cash flows, remain strong.
So lots to like about the current Telstra share price, if these two experts are to be believed anyway.
At the current Telstra share price, this ASX 200 telco has a market capitalisation of $47.25 billion. It has a trailing dividend yield of 3.9%.
