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Goldman Sachs: Buy rating on China Telecom, target price raised to 5.4 Hong Kong dollars.
Goldman Sachs released a research report stating a "buy" rating for China Telecom (00728), and raised the earnings forecast for 2024 to 2026 by 1.8%, 2.5%, and 1.3% respectively. The target price has been slightly raised from 5.3 Hong Kong dollars to 5.4 Hong Kong dollars. China Telecom's average monthly per user action revenue (ARPU) and profit margin remained stable in the first half of the year, becoming a bright spot in the telecommunications stock performance. The group's mobile ARPU in the first half of the year increased slightly by 0.2% year-on-year, while the industry peers declined by 1 to 3%. The bank believes that the group's second-quarter performance should help alleviate investors' concerns about its slowing revenue and deteriorating profitability.
[Special Columnist] Guo Jiayao: Blue chip performance is uneven but has not affected the overall market sentiment.
Gold Wu Finance News | The US stock market fell back on Thursday as the market awaited remarks from the Federal Reserve Chairman. Bond yields rebounded from lows, with the market opening higher and then falling. All three major indexes recorded losses at the close. The US dollar stabilized at a low level, and the yield on the 10-year US Treasury bond rose to 3.84 basis points. Gold prices fell from highs, while oil prices rebounded slightly. Hong Kong stocks generally declined in pre-traded securities, and it is expected that the market will follow a low opening in the early session. The mainland stock market fell yesterday, with the Shanghai Composite Index opening higher and then declining, closing with a 0.3% decrease. Trading volume remained light on the Shanghai and Shenzhen stock exchanges. Hong Kong stocks performed well, as the market anticipated an interest rate cut cycle, driving the market higher, and the index closed near the day's high with overall trading volume.
China Telecom Corporation Limited's (HKG:728) Stock Has Shown A Decent Performance: Have Financials A Role To Play?
[Special Guest Big V] Deng Shengxing: Hong Kong stocks are repeatedly weak and unable to go up.
Golden Finance News | Hang Seng Index closed at 17,391 on Wednesday (21st), down 120 points or 0.69%. The market had a full-day turnover of 93.8 billion yuan. The A50 Index fell by 53 points or 0.87% to 6141. The ChiNext Index surged over 3% this morning, but closed down 63 points or 1.8% at 3434. Walmart is reported to be selling its stake in JD.com (09618). JD.com responded in the afternoon, expressing confidence in future cooperation with Walmart. The closing price fell by 8.7% to 102.4 yuan, making it the worst-performing blue-chip. After Kuaishou (01024) announced its performance, several major banks lowered their target price, and the market is watching its e-commerce sales platform closely.
China Telecom's EGM Passes All Resolutions
China Telecom Announces Board Structure
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