Telstra Shares Pull Back From Highs Following Downgrades
Telstra shares (ASX: TLS) fell from recent highs after Macquarie downgraded the stock from Outperform to Neutral, citing limited upside following a strong rally. Macquarie cut its 12-month price target 1.2% to $5.57, implying about 4% upside. Telstra ended the week down 1.47% with volume 2.15x average.