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Morgan Stanley: Among the three major telecom operators, the preference is for CHINA TELECOM (00728). CHINA TOWER (00788) rating is upgraded to "Shareholding."
Morgan Stanley predicts that the service revenue growth rate of the telecommunications Industry in mainland China will slightly rise to 3.2% this year, compared to 2.7% in 2024.
Nomura Adjusts China Mobile's Price Target to HK$88 From HK$89, Keeps at Buy
Zhao Feng from Ruifeng Fund increases investment in Hong Kong stocks, adding positions in PICC P&C, TENCENT, and China Pacific Insurance.
The products under Rayliant Fund have disclosed the 2024 fourth quarter report, revealing the latest adjustment trends of star fund manager Zhao Feng. In the fourth quarter of 2024, the Rayliant Balanced Value Three-Year Holding Fund, managed by Zhao Feng, heavily invested in Shanxi Xinghuacun Fen Wine Factory for the first time; increased holdings in PICC P&C, TENCENT, and China Pacific Insurance; while Xiaomi Group returned to the top ten holdings; Zhao Feng significantly reduced holdings in CHINA MOBILE, Wanhua Chemical Group, Contemporary Amperex Technology, and Sinocare Inc.; Meituan and Ping An Insurance exited the top ten holdings. Specifically, the top ten heavy stocks of the Rayliant Balanced Value Three-Year Holding Fund are: Contemporary Amperex Technology, TENCENT, CHINA MOBILE, and Zhejiang Weiming Environment Protection.
[Brokerage Focus] Nomura slightly lowered the Target Price for CHINA MOBILE (00941) by 1.12%, indicating that last year's weakness was expected, and its fundamentals are likely to remain weak.
Jingwu Financial News | Nomura's Research Reports indicates that CHINA MOBILE (00941) has a robust balance sheet and cash flow, and the decline in capital expenditure supports sustainable dividend growth. Thus, it will continue to be one of the most defensive stocks in the Listed in Hong Kong market. The firm stated that due to CHINA MOBILE's core business facing saturation and intensified competition, and its government and corporate business being hampered by weak IT spending, its fundamentals may remain weak, and the previous year's weakness was anticipated. The firm has lowered the group's revenue and profit forecasts for the fiscal years 2024 to 2026 by 2.4 to 3.7% and 1.1 to 2.5%, respectively, to reflect the Consumer and corporate market conditions.
China Mobile Remains a Defensive Play, Nomura Says -- Market Talk
Nomura: Maintains CHINA MOBILE (00941) "Buy" rating, Target Price lowered to 88 Hong Kong dollars.
Nomura has lowered the revenue forecast for CHINA MOBILE for the fiscal years 2024-2026 by 2.4-3.7% and the profit forecast by 1.1-2.5%.
