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China Tower to Lease Data Transmission Equipment From CUC, CTC
Jefferies Adjusts China Tower Corporation's Price Target to HK$1.25 From HK$1.20, Keeps at Buy
Credit rating|Citi: China Tower's Q2 performance is steady but unlikely to drive sustained rebound, maintaining a "neutral" rating.
JPMorgan released a report stating that it maintains a "neutral" rating on China Tower and believes that only the increase in capital expenditure by Chinese telecommunications companies can drive the company's continued revenue and profit acceleration, and then China Tower can obtain a revaluation. JPMorgan pointed out that China Tower's financial situation improved in the second quarter, but it still maintains caution about the stock, and it is not expected that the second-quarter earnings conference will drive the stock to a significant revaluation or sustained rebound. This is because structural acceleration of revenue growth is unlikely to occur under the continuous reduction of capital expenditures by telecommunications companies. In addition, JPMorgan pointed out that the market has priced in the expected cost savings to be achieved by China Tower after the completion of depreciation.
bocom intl: Fortune Real Estate Investment Trust (00778) maintained stable performance in the first half of 2024, with a dividend yield of nearly 10%.
With the completion of the WOO Asset Enhancement Project, fortune real estate investment trust (00778) expects the overall rental rate to further increase in the second half of the year.
CICC: Maintains a "outperform" rating on China Tower (00788) with a target price of HKD 1.2.
CICC lowered China Tower's net income for 2024/25 to 10.8/13 billion yuan, down by 3.6%/4.0%.
China Tower Signs Key Leasing Agreements With CUC and CTC
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