UBS values Telstra (ASX:TLS) as the 'middle of the pack' relative to its defensive infrastructure/utilities/REIT peers

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UBS values Telstra (ASX:TLS) as the 'middle of the pack' relative to its defensive infrastructure/utilities/REIT peers. Despite robust operating fundamentals, the broker has retained a sell recommendation as the stock is currently trading at 20% above the broker's fundamental valuation of $4.00 and upsides are considered to have been priced in.


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