Is the Telstra (ASX:TLS) share price a buy after its investor update?

The Telstra Corporation Ltd (ASX: TLS) share price will be one to watch on Tuesday.

This follows the release of the telco giant's investor day presentation for its new T25 strategy this morning.

What is in the presentation?

While there was no new information included in the presentation, management has reiterated its growth targets for the coming years.

One of those targets is growing its underlying earnings per share by a compound annual growth rate in the high-teens during FY 2021 and FY 2025.

Supporting this growth will be management's cost reduction plans and its 5G network. In respect to the former, Telstra is aiming to make $500 million of net fixed cost outs between FY 2023 and FY 2025 while still investing in its growth.

As for the latter, Telstra expects to provide ~95% of the Australian population with 5G coverage by FY 2025. Combined with its superior network, this is expected to underpin mobile services revenue growth.

Telstra's CEO, Andy Penn, previously commented: "[The] announcement of T25 marks our transition from transformation to growth, from a strategy we had to do, to a strategy we want to do to focus on growth. It is a strategy that builds on the strong foundations we have built over the last three years and remains focussed on what matters most – our customers, our people, our shareholders and on supporting the creation of a vibrant digital economy for Australia."

Is the Telstra share price in the buy zone?

Although the Telstra share price is up 33% in 2021, a number of brokers still see value in the company's shares.

One of those is Goldman Sachs. It currently has a buy rating and $4.40 price target on its shares.

Based on the current Telstra share price of $4.00, this implies potential upside of 10% for investors. And if you include its forecast 16 cents per share fully franked dividend, the total potential return increases to 14%.

Goldman was pleased with Telstra's T25 strategy and believes the company is well-placed for earnings and dividend growth in the coming years.