NEW YORK, Dec 7 (Reuters) - Australian telecom Telstra , under the leadership of Chief Executive Sol Trujillo, has undergone an A$20 billion, five-year transformation that could yield shares worth as much as A$5.45 in the next year, Barron's said on Sunday.
Trujillo received a sound drubbing in the Australian press, which caricatured his Mexican heritage by depicting him riding a donkey and wearing a sombrero, but the 30-year industry veteran has upgraded Telstra's network and replaced outdated technology in addition to bolstering its balance sheet and slashing costs, trimming headcount to 45,000, Barron's said.
The shares, recently around A$4.10, could go as high as A$5.45, and given the stock's 28 cents a share dividend, the stock is worth at least A$6, according to analyst Nick Pashias of Portfolio Partners', Barron's reported.
(Reporting by Helen Chernikoff; Editing by Leslie Adler) Keywords: TELSTRA/SHARES (helen.chernikoff@thomsonreuters.com; +1 646 223 6127; Reuters Messaging: helen.chernikoff.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2008. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Trujillo received a sound drubbing in the Australian press, which caricatured his Mexican heritage by depicting him riding a donkey and wearing a sombrero, but the 30-year industry veteran has upgraded Telstra's network and replaced outdated technology in addition to bolstering its balance sheet and slashing costs, trimming headcount to 45,000, Barron's said.
The shares, recently around A$4.10, could go as high as A$5.45, and given the stock's 28 cents a share dividend, the stock is worth at least A$6, according to analyst Nick Pashias of Portfolio Partners', Barron's reported.
(Reporting by Helen Chernikoff; Editing by Leslie Adler) Keywords: TELSTRA/SHARES (helen.chernikoff@thomsonreuters.com; +1 646 223 6127; Reuters Messaging: helen.chernikoff.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2008. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.