Nomura Lowers China Unicom Ltd. (CHU) to Neutral
China Unicom Ltd. (NYSE:CHU) was downgraded by analysts at Nomura from a “buy” rating to a “neutral” rating in a report released on Wednesday.
Several other equities research analysts also recently weighed in on CHU. Sanford C. Bernstein raised shares of China Unicom from a “market perform” rating to an “outperform” rating in a report on Thursday, August 18th. Goldman Sachs Group Inc. raised shares of China Unicom from a “neutral” rating to a “buy” rating and set a $12.50 price objective for the company in a report on Thursday, September 22nd. Finally, Deutsche Bank AG downgraded shares of China Unicom from a “buy” rating to a “hold” rating in a report on Monday, October 24th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. China Unicom currently has an average rating of “Hold” and a consensus target price of $12.25.
China Unicom (NYSE:CHU) traded up 6.65% during midday trading on Wednesday, hitting $12.03. 941,169 shares of the company’s stock traded hands. China Unicom has a 52 week low of $9.89 and a 52 week high of $13.26. The company has a 50 day moving average of $11.73 and a 200-day moving average of $11.19. The company has a market capitalization of $28.81 billion, a PE ratio of 50.12 and a beta of 0.73.
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A number of hedge funds have recently bought and sold shares of CHU. Fox Run Management L.L.C. bought a new stake in China Unicom during the second quarter valued at about $125,000. Dynamic Technology Lab Private Ltd increased its stake in China Unicom by 128.5% in the second quarter. Dynamic Technology Lab Private Ltd now owns 30,554 shares of the company’s stock valued at $318,000 after buying an additional 17,184 shares during the last quarter. Societe Generale acquired a new position in shares of China Unicom during the second quarter worth $184,000. Emerald Acquisition Ltd. acquired a new position in shares of China Unicom during the second quarter worth $1,714,000. Finally, World Asset Management Inc increased its position in shares of China Unicom by 8.3% in the second quarter. World Asset Management Inc now owns 148,220 shares of the company’s stock worth $1,543,000 after buying an additional 11,374 shares in the last quarter. Hedge funds and other institutional investors own 0.94% of the company’s stock.
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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