China Unicom (Hong Kong) (CHU) Raised to Buy at CLSA
China Unicom (Hong Kong) (NYSE:CHU) was upgraded by analysts at CLSA from an “underperform” rating to a “buy” rating in a research report issued on Thursday, The Fly reports.
Several other research firms have also weighed in on CHU. Zacks Investment Research lowered shares of China Unicom (Hong Kong) from a “buy” rating to a “hold” rating in a research note on Wednesday, September 20th. Nomura upgraded shares of China Unicom (Hong Kong) from a “reduce” rating to a “neutral” rating in a research note on Thursday, October 26th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $16.00.
China Unicom (CHU) traded down $0.10 during trading on Thursday, reaching $14.06. 200,000 shares of the company were exchanged, compared to its average volume of 221,386. China Unicom has a 52-week low of $11.28 and a 52-week high of $16.55. The stock has a market capitalization of $42,890.00, a P/E ratio of 70.30 and a beta of 0.72. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.14.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Russell Frank Co grew its holdings in China Unicom (Hong Kong) by 78.0% during the fourth quarter. Russell Frank Co now owns 102,700 shares of the Wireless communications provider’s stock valued at $1,242,000 after purchasing an additional 45,000 shares during the last quarter. World Asset Management Inc grew its holdings in China Unicom (Hong Kong) by 2.4% during the fourth quarter. World Asset Management Inc now owns 127,107 shares of the Wireless communications provider’s stock valued at $1,533,000 after purchasing an additional 2,926 shares during the last quarter. American Century Companies Inc. acquired a new position in China Unicom (Hong Kong) during the fourth quarter valued at approximately $505,000. Segantii Capital Management Ltd acquired a new position in China Unicom (Hong Kong) during the fourth quarter valued at approximately $3,048,000. Finally, First Trust Advisors LP boosted its position in shares of China Unicom (Hong Kong) by 14.2% in the fourth quarter. First Trust Advisors LP now owns 132,815 shares of the Wireless communications provider’s stock valued at $1,602,000 after acquiring an additional 16,549 shares during the period. 0.91% of the stock is owned by institutional investors.
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About China Unicom (Hong Kong)
China Unicom (Hong Kong) Limited is a Hong Kong-based investment holding company principally engaged in the provision of telecommunications services. The Company’s businesses include mobile businesses, fixed-line businesses and others. Its mobile businesses include the provision of call services, roaming services, mobile broadband services, traditional value-added services such as short message services, multimedia message services and wireless Internet access card, as well as new value-added services such as mobile music, mobile television and Wo portal services.
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