Telstra Corporation Ltd (ASX: TLS) received another push today after the well-respected Charlie Aitken of Bell Potter Securities gave the stock a $7 price target. The stock rose 1.2% to record a new 13-year high at $6.115.
Indeed, the shares have been a boon for investors in recent years. While they've surged more than 16% over the last 12 or so months, they've risen roughly 120% since the beginning of 2011. When dividends are included, the total returns have been much greater.
As quoted by Fairfax media, Aitken said his bullish view was a "classic example of letting a winner run". He also said that: "TLS could well be the top 10 stock to own" based on its gigantic (fully franked) dividend yield, regulatory certainty and positive earnings revision, amongst other factors.
What's more, Aitken has even forecast the telecommunications giant to increase its dividend in the 2015 financial year to 32 cents, giving it a prospective yield of 5.2%. Needless to say, investors will pounce on that in a low interest rate environment.
An even better bet than Telstra Corporation Ltd
