How much could $10,000 invested in Telstra shares be worth next year?

If you’re lucky enough to have $10,000 to invest in the share market, would Telstra Group Ltd (ASX: TLS) shares be a good option?

Over the last 12 months, they certainly would have been. During this time, the telco giant’s shares have risen by almost 8%.

And if you throw in the ~4% fully franked dividend yield its shares have provided, you’re looking at a total return in the region of 12%.

That would have turned a $10,000 investment a year ago into $11,200 today.

But that was then. What about now? Could an investment in Telstra shares deliver strong returns over the next 12 months? Let’s find out.

What could $10,000 invested in Telstra shares be worth in 2024?

If you were to invest $10,000 in the telco giant, you would end up owning 2,364 shares at the current share price of $4.23.

According to a recent note out of Goldman Sachs, its analysts see the current share price as great value for investors.

As a result, earlier this month, the broker reiterated its buy rating with an improved price target of $4.80.

This means that if your 2,364 Telstra shares rose to that level, they would be worth $11,347.20.

But the returns shouldn’t stop there. Goldman is forecasting a fully franked dividend of 18 cents in FY 2024. This equates to a 4.25% dividend yield and will boost the value of your investment by $425.52 if you reinvest the income.

All in all, this would mean that your investment in Telstra climbs to a total of $11,772.72. This represents a ~17.8% return on your original investment, which is almost double the average market return over the last 30 years.

Here’s hoping that Goldman’s recommendation plays out accordingly!