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[Brokerage Focus] Goldman Sachs raises target price for three major telecommunications operators, indicating that industry revenue recovery is better than expected.
Jingu Finance News | Goldman Sachs released a report stating that China's telecommunication services industry saw a recovery in revenue from July to August, with a trend better than expected, both growing by 2.3% year-on-year, with a growth rate higher than the second quarter of 2024. The bank believes that the data shows signs of stabilizing industry growth driven by stable mobile data revenue. The report indicates that the data trend from July to August is better than Goldman Sachs' estimate for telecommunication companies in the third quarter. Therefore, the bank has slightly adjusted its estimate to reflect a more stable revenue trend. The bank maintains a 'buy' rating on China Mobile (00941), China Telecom (00728), and China Unicom's H shares (00762), with a target
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