0013 GMT - Telstra's aim to become one of Australia's top five energy retailers by FY 2025 lacks ambition given the potential synergies between household data and energy provision, JPMorgan says. The telecommunications firm's aspiration initially sounds reasonable but ultimately represents just a 5% market share, it says. The investment bank thinks such a status would contribute A$100 million or less to Telstra's annual EBIT. Telstra recorded EBIT of A$2.99 billion for the 12 months through June 2021. Inorganic growth in energy retail would make more sense, JPM says, which is overweight on the stock with a A$4.60 target price. Shares are 0.8% higher at A$3.98. (stuart.condie@wsj.com; @StuartLCondie)
Telstra's Energy Goals Lack Ambition, JPM Says -- Market Talk
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