Telco giant Telstra Ltd
(ASX:TLS) shares jumped by 9 cents yesterday to close at $2.74, the highest closing price since the end of September after analysts at JPMorgan recommended the share for the first time in six years.
The recommendation comes despite the company’s ongoing uncertainty over the national broadband network.
Last week Telstra’s board announced it would pay shareholders a fully franked dividend for at least two years.
This places the company as one of the highest returning shares on the market.
For the year ended 30 June 2010, Telstra reported a net profit of $3.9 billion.
