Published Date : Oct 09, 2015
The shares of China Telecom Corp. Ltd. has gapped up before trading session on Wednesday. The share of this telecom giant had closed at US$46.99 on Tuesday, Oct 6th 2015, but opened at US$47.76 on Thursday, Oct 7th, 2015.
A number of financial research firms have published their projection on China Telecom. Jefferies Group has lowered their price target on the stock from US$77.50 to US$71.00. They have given it a ‘buy’ rating, whereas the Citigroup Inc. has upgraded the China Telecom stock from a ‘sell’ to a ‘neutral’ rating. Zacks has also upgraded the stock from a ‘sell’ to a ‘hold’ rating.
Credit Suisse reiterated the previously given “outperform” rating on the stocks of China Telecom Ltd. in a report. One of the market experts at Credit Suisse has rated the stock with a ‘sell rating’, while another one has rated it at ‘hold’. Four other analysts have given a ‘buy’ rating to China Telecom.
At present, the stock has an average rating of ‘buy’ with a price target of US$69.15 of at an average. The 50 day moving average of this stock is US$51.21 and the 200-day moving average has been estimated at US$61.03. The firm has a market capital of US$39.96 bn and a P/E ratio of 14.52.
China Telecom Corp. Ltd., the Chinese telecom giant, is a wireline telecommunication and information service operator, broadband Internet services vendor, and CDMA mobile network provider in world’s largest economy. The key business of this company is to provide basic communications services, such as, mobile telecoms services, wireline telecom services, and various value added services in China.