0117 GMT - Telstra's annual result and fiscal 2027 guidance don't appear to have won over any marginal buyers of the Australian telco's shares, Morgans analyst Nick Harris observes. The stock fell 3.2% in the session following the announcement despite a 3.5% lift in annual underlying earnings that Harris points out was in line with expectations. He tells clients in a note that Telstra's ability to push average revenue per mobile user higher at an annual rate of between 3% and 5% in the past three halves shows pricing power, but thinks that softer recent momentum in postpaid subscribers seems to have spooked some investors. Morgans keeps a hold rating on the stock and cuts its target price by 3.8% to 5.00 Australian dollars. Shares are down 0.6% at A$4.81.
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