Nomura Upgrades China Telecom Corp. (CHA) to “Buy”
China Telecom Corp. (NYSE:CHA) was upgraded by research analysts at Nomura from a “neutral” rating to a “buy” rating in a report issued on Wednesday.
CHA has been the topic of several other reports. Zacks Investment Research raised shares of China Telecom Corp. from a “hold” rating to a “buy” rating and set a $59.00 price target on the stock in a research note on Tuesday, October 11th. Bank of America Corp. initiated coverage on shares of China Telecom Corp. in a research note on Monday, August 15th. They set a “top pick” rating on the stock. They noted that the move was a valuation call. 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. Finally, 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. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. China Telecom Corp. presently has an average rating of “Buy” and a consensus target price of $59.00.
China Telecom Corp. (NYSE:CHA) traded up 4.07% on Wednesday, reaching $48.87. 80,072 shares of the company’s stock traded hands. China Telecom Corp. has a 52 week low of $42.23 and a 52 week high of $55.85. The stock has a 50-day moving average of $50.50 and a 200 day moving average of $49.20. The firm has a market capitalization of $39.55 billion, a P/E ratio of 13.57 and a beta of 0.79.
COPYRIGHT VIOLATION WARNING: “Nomura Upgrades China Telecom Corp. (CHA) to “Buy”” was first published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this report on another domain, it was illegally stolen and reposted in violation of United States and international copyright laws. The legal version of this report can be accessed at https://www.thecerbatgem.com/2016/11/30/nomura-upgrades-china-telecom-corp-cha-to-buy.html.
Several large investors have recently added to or reduced their stakes in the company. Advisors Preferred LLC bought a new stake in China Telecom Corp. during the third quarter valued at about $125,000. BNP Paribas Arbitrage SA bought a new stake in China Telecom Corp. during the third quarter valued at about $136,000. Harvard Management Co. Inc. bought a new stake in China Telecom Corp. during the third quarter valued at about $205,000. Barclays PLC bought a new stake in China Telecom Corp. during the second quarter valued at about $212,000. Finally, Americafirst Capital Management LLC bought a new stake in China Telecom Corp. during the second quarter valued at about $219,000. 0.54% of the stock is currently owned by institutional investors and hedge funds.
China Telecom Corp. Company Profile
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.
Receive News & Stock Ratings for China Telecom Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for China Telecom Corp. and related stocks with our FREE daily email newsletter.