Zacks Investment Research upgraded shares of China Unicom (Hong Kong) Ltd (NYSE:CHU) from a hold rating to a buy rating in a report released on Monday morning. They currently have $17.00 price objective on the Wireless communications provider’s stock.

According to Zacks, “China Unicom Limited is engaged in the provision of cellular, paging, long distance, data and internet services in the People’s Repulic of China. “

Other equities research analysts have also issued research reports about the company. Morgan Stanley lowered China Unicom (Hong Kong) from an overweight rating to an underweight rating in a research report on Wednesday, July 5th. BidaskClub lowered China Unicom (Hong Kong) from a buy rating to a hold rating in a research report on Tuesday, June 20th. CLSA lowered China Unicom (Hong Kong) from an outperform rating to an underperform rating in a research report on Wednesday, August 16th. Nomura lowered China Unicom (Hong Kong) from a neutral rating to a reduce rating in a research report on Thursday, August 24th. Finally, J P Morgan Chase & Co lowered China Unicom (Hong Kong) from a neutral rating to an underweight rating in a research report on Monday, August 21st. Four investment analysts have rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the company. The company currently has an average rating of Hold and an average price target of $14.75.

Shares of China Unicom (CHU) opened at 14.59 on Monday. The stock has a 50 day moving average of $14.81 and a 200 day moving average of $13.78. The company has a market cap of $34.94 billion, a price-to-earnings ratio of 145.90 and a beta of 0.74. China Unicom has a 52-week low of $10.84 and a 52-week high of $16.55.

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Large investors have recently added to or reduced their stakes in the company. US Bancorp DE raised its stake in China Unicom (Hong Kong) by 1.8% in the second quarter. US Bancorp DE now owns 7,247 shares of the Wireless communications provider’s stock valued at $108,000 after buying an additional 128 shares in the last quarter. Capstone Asset Management Co. raised its stake in China Unicom (Hong Kong) by 0.3% in the first quarter. Capstone Asset Management Co. now owns 39,839 shares of the Wireless communications provider’s stock valued at $537,000 after buying an additional 130 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in China Unicom (Hong Kong) by 4.6% in the first quarter. PNC Financial Services Group Inc. now owns 16,837 shares of the Wireless communications provider’s stock valued at $227,000 after buying an additional 738 shares in the last quarter. Ronald Blue & Co. LLC raised its stake in China Unicom (Hong Kong) by 9.5% in the second quarter. Ronald Blue & Co. LLC now owns 11,392 shares of the Wireless communications provider’s stock valued at $170,000 after buying an additional 986 shares in the last quarter. Finally, BNP Paribas Arbitrage SA raised its stake in China Unicom (Hong Kong) by 0.8% in the second quarter. BNP Paribas Arbitrage SA now owns 122,646 shares of the Wireless communications provider’s stock valued at $1,835,000 after buying an additional 990 shares in the last quarter. Institutional investors and hedge funds own 1.18% of the company’s stock.

China Unicom (Hong Kong) Company Profile

China Unicom (Hong Kong) Limited is a Hong Kong-based investment holding company principally engaged in the provision of telecommunications services. The Company’s businesses include mobile businesses, fixed-line businesses and others. Its mobile businesses include the provision of call services, roaming services, mobile broadband services, traditional value-added services such as short message services, multimedia message services and wireless Internet access card, as well as new value-added services such as mobile music, mobile television and Wo portal services.

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Analyst Recommendations for China Unicom (Hong Kong) (NYSE:CHU)

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