Chunghwa Telecom Receives “Neutral” Rating from Zacks (CHT)
Chunghwa Telecom (NYSE:CHT)‘s stock had its “neutral” rating reaffirmed by Zacks in a note issued to investors on Tuesday. They currently have a $34.00 price target on the stock. Zacks‘s price target indicates a potential upside of 6.05% from the company’s current price.
Zacks’ analyst wrote, “Chunghwa Telecom reported mixed financial results for the first quarter of 2014. The company is the largest integrated telecommunications operator in Taiwan. Chunghwa offers a full suite of telecom services through fixed-line, mobile and data networks throughout Taiwan and to offshore islands. Though the fixed-line service is relatively saturated, we believe Chunghwa’s mobile and Internet/Data operations will drive overall growth over the next several years. Aggressive rollout of fiber-to-the-home, 3G mobile services and the upcoming 4GLTE network have positioned the company competitively. Chunghwa has also expanded into IPTV and cloud-computing services. The Taiwanese telecom market is highly competitive. We believe that the stock is currently fairly valued. We, therefore, maintain our long-term Neutral recommendation on Chunghwa.”
Shares of Chunghwa Telecom (NYSE:CHT) traded down 0.34% on Tuesday, hitting $31.95. The stock had a trading volume of 19,708 shares. Chunghwa Telecom has a 52 week low of $29.07 and a 52 week high of $33.74. The stock’s 50-day moving average is $31.7 and its 200-day moving average is $30.85. The company has a market cap of $24.785 billion and a price-to-earnings ratio of 17.52.
Separately, analysts at JPMorgan Chase & Co. downgraded shares of Chunghwa Telecom from a “neutral” rating to an “underweight” rating in a research note on Friday, June 6th.
Chunghwa Telecom Co, Ltd. is a provider of telecommunication services. The Company operates its businesses through domestic fixed-line communication services, including urban telephone, long-distance telephone, intelligent network (NYSE:CHT), integrated service digital network (ISDN), domestic circuit leasing and multimedia on demand (MOD) services; mobile communication services, including global system for mobile communications (GSM) mobile communication, third generation (3G) mobile communication and mobile value-added services; network services, including Internet service provider (ISP) and domestic data exchange business; international fixed-line communication services, including international telephone, international circuit leasing, international data exchange and satellite communication services, as well as services for corporate customers, including integrated services for corporate, international corporate information services, mobile corporate services and data services.
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