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Key points
- The Telstra share price has hit 3 52-week highs so far this year
- The stock is currently trading for 1.4% more than it was at the end of 2021
- Its gains have come despite its home sector's struggles
The Telstra Corporation Ltd (ASX: TLS) share price has had a strong start time to 2022.
Since the year began, it's hit its 52-week high 3 times, pushing it higher on 2 occasions.
Excitingly, the Telstra share price reached a new 52-week high of $4.28 today.
Though, at the time of writing, it has slipped slightly lower to trade at $4.24, still representing a 0.47% gain.
For context, the S&P/ASX 200 Index (ASX: XJO) is down 0.92% right now.
What's going on with the Telstra share price in 2022?
The Telstra share price is in the green for this year so far. Not to mention, its stock has been flying off the shelves.
Of the 8 trading sessions of the year so far – not including today's –Telstra has featured in The Motley Fool Australia's daily breakdown of the most traded ASX 200 shares 5 times.
On top of that, the telecommunication giant's shares have been significantly outperforming its sector.
Since the final close of 2021, the S&P/ASX 200 Communication Index (ASX: XTJ) has slipped 2%. Its biggest weights include Domain Holdings Australia Ltd (ASX: DHG) and SEEK Limited (ASX: SEK).
Meanwhile, Telstra's fellow ASX 200 telecommunication provider TPG Telecom Ltd (ASX: TPG) has seen its stock gain 9%. Though, that of its smaller peer Aussie Broadband Ltd (ASX: ABB) has tumbled 4%.
While there's been no price-sensitive news from Telstra in January, brokers remain bullish on its share price.
As The Motley Fool Australia has previously reported, Ord Minnett and Morgans both believe the company is worth investing in. They've slapped it with price targets of $4.85 and $4.55 respectively.
