China Telecom Gets Average Target Price of US$71/Share


Published Date : Dec 11, 2015

Six brokerage firms has given China Telecom Ltd. a ‘Buy’     rating, reports MarketBeat.com. The company received a ‘Hold’ rating from 3 analysts, while 3 issued a ‘Buy’. The average price target for 12 months has been set at US$71.00 by analysts, who are keeping a watch on the stock for last one year.

Many financial firms have given their ratings on the stock of China Telecom in 6 months. Credit Suisse has reiterated the ‘outperform’ rating on the stock of China Telecom Ltd. in a research note issued on August 17th, 2015.

The company’s stock saw an upgradation in its ratings given by Citigroup Inc. from a ‘sell’ to a ‘neutral’ rating. Citigroup issued a research note, announcing the upgradation on August 20th, 2015.

Jefferies Group decreased their price target on China Telecom Ltd. shares from US$77.50 to U$71.00 and gave a ‘buy’ rating on this stock in a note issued on August 21st, 2015. Zacks Investment Research raised the shares of China Telecom Ltd. from a ‘sell’ rating to a ‘hold’ rating in a note published on November 2nd, 2015.

At last, Sanford C. Bernstein downgraded the shares of China Telecom Ltd. to a ‘market-perform’ rating from an ‘outperform’ rating in a note published on October 30th, 2015. The shares of China Telecom Ltd. opened at US$45.71 per share on Dec 07th, 2015.

The company’s stock has a 1-year high of US$78.28 and a 1-year low of US$45.39. The 50-day moving average of the stock is US$50.97, whereas the 200-day moving average is US$54.69. The telecom giant has a market cap of US$36.99 bn and a P/E of 13.44.