China Unicom Ltd. (CHU) Stock Rating Upgraded by Goldman Sachs Group Inc.
China Unicom Ltd. (NYSE:CHU) was upgraded by stock analysts at Goldman Sachs Group Inc. from a “neutral” rating to a “conviction-buy” rating in a report released on Thursday, The Fly reports.
Several other research firms also recently weighed in on CHU. Sanford C. Bernstein upgraded China Unicom from a “market perform” rating to an “outperform” rating in a research note on Thursday, August 18th. Jefferies Group downgraded China Unicom from a “buy” rating to a “hold” rating in a research note on Monday, July 18th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $13.95.
Shares of China Unicom (NYSE:CHU) opened at 11.88 on Thursday. The stock’s 50 day moving average price is $11.35 and its 200 day moving average price is $11.35. The company has a market capitalization of $28.45 billion, a PE ratio of 38.32 and a beta of 0.59. China Unicom has a 12-month low of $9.89 and a 12-month high of $15.00.
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Hedge funds have recently modified their holdings of the company. Airain ltd boosted its stake in shares of China Unicom by 15.2% in the second quarter. Airain ltd now owns 29,987 shares of the company’s stock worth $312,000 after buying an additional 3,954 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of China Unicom by 8.7% in the second quarter. PNC Financial Services Group Inc. now owns 15,607 shares of the company’s stock worth $162,000 after buying an additional 1,250 shares during the period. SG Americas Securities LLC boosted its stake in shares of China Unicom by 12.1% in the second quarter. SG Americas Securities LLC now owns 17,644 shares of the company’s stock worth $184,000 after buying an additional 1,910 shares during the period. Emerald Acquisition Ltd. bought a new stake in shares of China Unicom during the second quarter worth about $1,714,000. Finally, Societe Generale bought a new stake in shares of China Unicom during the second quarter worth about $184,000. 0.96% of the stock is currently owned by institutional investors and hedge funds.
China Unicom Company Profile
China Unicom (Hong Kong) Limited is an investment holding company. The Company is an integrated telecommunications operator. The principal activities of the Company’s subsidiaries are the provision of cellular and fixed-line voice and related services, broadband and other Internet-related services, information communications technology services, and business and data communications services in the People’s Republic of China (PRC).
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