BidaskClub upgraded shares of China Telecom Corp Ltd (NYSE:CHA) from a sell rating to a hold rating in a report published on Wednesday.

Separately, Zacks Investment Research upgraded shares of China Telecom Corp from a sell rating to a hold rating in a research report on Friday, April 28th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of Buy and an average price target of $54.00.

Shares of China Telecom Corp (NYSE:CHA) traded down 1.29% during midday trading on Wednesday, reaching $47.42. The company had a trading volume of 3,676 shares. China Telecom Corp has a one year low of $45.58 and a one year high of $53.87. The company has a 50 day moving average price of $47.79 and a 200-day moving average price of $48.36. The firm has a market capitalization of $38.38 billion, a P/E ratio of 14.37 and a beta of 0.65.

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Hedge funds have recently made changes to their positions in the stock. Aperio Group LLC increased its stake in shares of China Telecom Corp by 25.5% in the second quarter. Aperio Group LLC now owns 334,920 shares of the utilities provider’s stock valued at $16,053,000 after buying an additional 68,058 shares during the last quarter. Karp Capital Management Corp purchased a new stake in shares of China Telecom Corp during the first quarter valued at approximately $12,988,000. Arrowstreet Capital Limited Partnership increased its stake in shares of China Telecom Corp by 11.6% in the second quarter. Arrowstreet Capital Limited Partnership now owns 258,261 shares of the utilities provider’s stock valued at $12,378,000 after buying an additional 26,872 shares during the last quarter. Credit Suisse AG increased its stake in shares of China Telecom Corp by 7.5% in the first quarter. Credit Suisse AG now owns 205,667 shares of the utilities provider’s stock valued at $10,010,000 after buying an additional 14,292 shares during the last quarter. Finally, Tudor Investment Corp ET AL increased its stake in shares of China Telecom Corp by 475.0% in the second quarter. Tudor Investment Corp ET AL now owns 115,000 shares of the utilities provider’s stock valued at $5,512,000 after buying an additional 95,000 shares during the last quarter. Hedge funds and other institutional investors own 0.41% of the company’s stock.

About China Telecom Corp

China Telecom Corporation Limited is an investment holding company principally engaged in telecommunications and related businesses. The Company provides integrated information services, including wireline and mobile telecommunications services, Internet access services, information services and other value-added telecommunications services.

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