China Unicom (Hong Kong) Limited’s “Neutral” Rating Reaffirmed at Zacks (CHU)
China Unicom (Hong Kong) Limited (NYSE:CHU)‘s stock had its “neutral” rating restated by Zacks in a research note issued on Thursday. They currently have a $19.00 target price on the stock. Zacks‘s price objective would indicate a potential upside of 7.22% from the company’s current price.
Zacks’ analyst wrote, “We are maintaining our Neutral recommendation on China Unicom. The company registered top and bottom-line growth in the second quarter of 2014 owing to strong contribution from its 3G and broadband businesses. We expect future performance of the company to be aided by the well-performing mobile and broadband business and the expansion of the 3G network. We expect the company to continue with its subscriber addition owing to network expansion, low tariffs and bundled offerings. Further, a speedy rollout of HSPA+ network and the telecom infrastructure joint ventures could create tailwinds going forward. Nevertheless, we remain concerned about stiff competition, which can affect the company’s ARPU. The carrier continues to lag behind rival China Mobile in 4G investments and subscriber addition. Additionally, access line loss and high operating expenses can be a drag on its profits.”
A number of other firms have also recently commented on CHU. Analysts at Macquarie downgraded shares of China Unicom (Hong Kong) Limited from an “outperform” rating to a “neutral” rating in a research note on Tuesday. Separately, analysts at Mizuho upgraded shares of China Unicom (Hong Kong) Limited from a “neutral” rating to a “buy” rating in a research note on Thursday, August 28th. Finally, analysts at Jefferies Group reiterated a “buy” rating on shares of China Unicom (Hong Kong) Limited in a research note on Tuesday, August 5th. They now have a $20.10 price target on the stock, up previously from $18.00. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $19.55.
Shares of China Unicom (NYSE:CHU) traded up 0.51% during mid-day trading on Thursday, hitting $17.81. 201,913 shares of the company’s stock traded hands. China Unicom has a 1-year low of $11.71 and a 1-year high of $18.20. The stock has a 50-day moving average of $16.93 and a 200-day moving average of $14.91. The company has a market cap of $42.461 billion and a P/E ratio of 22.43.
China Unicom (NYSE:CHU) Limited is an investment holding company.
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