Macquarie keeps AUD 5.02 target for Telstra stock

Telstra Group Limited (AU000000TLS2) has a fresh analyst reference point: Macquarie maintained its Hold rating and set an AUD 5.02 price target on October 18, 2026, Business Insider reported. Against the ASX price of AUD 4.95 on October 23, the target implies 1.41 percent upside. Telstra was at EUR 3.12 at Lang & Schwarz on October 24, 2026 at 1:04 p.m. CEST.

Macquarie keeps a cautious stance

The Macquarie view leaves the stock near the target rather than pointing to a wide valuation gap. The same report said the analyst consensus was Hold with an average target of AUD 5.03, only 1.62 percent above the AUD 4.95 ASX price.

That narrow gap puts the rating in an income-and-execution context. Telstra's latest annual figures show a business with stable earnings but slightly lower reported revenue, while the target leaves limited room for a major re-rating.

Stock position and valuation

Telstra's ASX quote stood at AUD 4.95 on October 23, 2026 at 4:19 p.m. AEDT, up AUD 0.09, or 1.85 percent, from AUD 4.86. Its 52-week range was AUD 4.56 to AUD 5.58, placing the stock 11.29 percent above its low and 11.29 percent below its high.

The market capitalization was AUD 54.9 billion on October 23, 2026, and the trailing P/E ratio was 24.91. Telstra's full-year valuation therefore rests on both recurring telecommunications earnings and the company's ability to maintain cash returns while funding network investment.

Results and the next date

For fiscal year 2026, revenue was AUD 22.94 billion, down 0.81 percent from AUD 23.13 billion a year earlier, while earnings reached AUD 2.24 billion, up 3.18 percent, according to StockAnalysis. The figures show a modest revenue contraction alongside higher earnings, a combination that helps explain the restrained analyst stance.

StockAnalysis lists February 18, 2027 as Telstra's next earnings date. The company operates in communication services and telecommunications services, with consumer, enterprise, network and infrastructure activities across Australia.

Price and investor perspective

The current euro indication and the home-market move tell different parts of the story: Telstra was at EUR 3.12 at Lang & Schwarz on October 24, 2026 at 1:04 p.m. CEST, while the ASX quote had gained 1.85 percent on October 23. The key near-term question is whether earnings growth can support a target only 1.41 percent above the latest ASX price.

The further course of trading is shown by the continuously updated real-time quote of Telstra stock.

Market context: Market report S&P/ASX 200.

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