China Telecom Corp. (CHA) Lowered to “Sell” at Zacks Investment Research
According to Zacks, “China Telecom Corporation is a state-owned telecommunications company in China. They operate local telephone networks in ten provinces in China. They operate domestic and international fixed-line networks and infrastructure including wireless local loop, as well as telecom network-based voice, data, video, multimedia and information services. They are also engaged in international telecom service settlement and expand into overseas markets. “
Several other research firms also recently weighed in on CHA. Sanford C. Bernstein raised shares of China Telecom Corp. from a market perform rating to an outperform rating in a research note on Wednesday, November 9th. Bank of America Corp. assumed coverage on shares of China Telecom Corp. in a research note on Monday, August 15th. They issued a top pick rating for the company. They noted that the move was a valuation call. Finally, Morgan Stanley raised shares of China Telecom Corp. from an equal weight rating to an overweight rating in a research note on Friday, November 11th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $59.00.
China Telecom Corp. (NYSE:CHA) opened at 47.05 on Wednesday. China Telecom Corp. has a 1-year low of $42.23 and a 1-year high of $55.85. The firm has a market cap of $38.08 billion, a P/E ratio of 13.07 and a beta of 0.79. The firm’s 50-day moving average price is $50.83 and its 200-day moving average price is $49.20.
Institutional investors have recently modified their holdings of the stock. Advisors Preferred LLC bought a new position in China Telecom Corp. during the third quarter worth about $125,000. BNP Paribas Arbitrage SA bought a new position in China Telecom Corp. during the third quarter worth about $136,000. Harvard Management Co. Inc. bought a new position in China Telecom Corp. during the third quarter worth about $205,000. Barclays PLC bought a new position in China Telecom Corp. during the second quarter worth about $212,000. Finally, Americafirst Capital Management LLC bought a new position in China Telecom Corp. during the second quarter worth about $219,000. 0.54% of the stock is owned by hedge funds and other institutional investors.
About China Telecom Corp.
China Telecom Corporation Limited is an integrated information service provider in the People’s Republic of China (PRC). The Company offers a range of telecommunications services, including wireline voice services, mobile voice services, Internet access services, value-added services, integrated information application services, telecommunications network resource services and lease of network equipment and other related services.
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