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<Research>Citi Lifts TPs for 3 Major CN Telecoms; Top Pick CHINA TELECOM
Recommend 30 Positive 54 Negative 26 |
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Citi has released a report on the Chinese telecom industry, highlighting that it maintained strong resilience amid macroeconomic uncertainties and heightened geopolitical risks because of high dividend yields and robust profitability. Citi's investment preference order for the three major Chinese telecom companies was CHINA TELECOM (00728.HK) > CHINA MOBILE (00941.HK) > CHINA UNICOM (00762.HK). CHINA TELECOM is seen as having the most growth potential due to its leading position in AI and cloud businesses, while CHINA MOBILE has attracted income-focused investors with its high dividend yield. Regarding CHINA UNICOM's A-share high valuation risk, the broker recommended caution on it. Citi raised its target prices for CHINA MOBILE/ CHINA TELECOM/ CHINA UNICOM from HKD82.3/ HKD5.1/ HKD6.9 to HKD105.1/ HKD7.1/ HKD11.2. All of their ratings were kept as Buy. AAStocks Financial News |
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