Analysts at Bank of America Corporation initiated coverage on shares of China Unicom (Hong Kong) Ltd (NYSE:CHU) in a research report issued on Wednesday. The firm set a “neutral” rating on the Wireless communications provider’s stock.

CHU has been the topic of a number of other reports. Zacks Investment Research downgraded shares of China Unicom (Hong Kong) from a “buy” rating to a “hold” rating in a report on Friday, August 25th. Sanford C. Bernstein reiterated a “buy” rating on shares of China Unicom (Hong Kong) in a report on Tuesday, July 11th. J P Morgan Chase & Co downgraded shares of China Unicom (Hong Kong) from a “neutral” rating to an “underweight” rating in a report on Monday, August 21st. Nomura downgraded shares of China Unicom (Hong Kong) from a “neutral” rating to a “reduce” rating in a report on Thursday, August 24th. Finally, BidaskClub upgraded shares of China Unicom (Hong Kong) from a “hold” rating to a “buy” rating in a report on Tuesday, June 27th. Four research analysts have rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $14.75.

China Unicom (NYSE CHU) opened at 14.44 on Wednesday. China Unicom has a 1-year low of $10.84 and a 1-year high of $16.55. The company has a 50-day moving average price of $14.89 and a 200-day moving average price of $13.85. The company has a market cap of $34.58 billion, a PE ratio of 144.40 and a beta of 0.74.

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Several hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. increased its stake in China Unicom (Hong Kong) by 28,837.9% in the first quarter. JPMorgan Chase & Co. now owns 80,158 shares of the Wireless communications provider’s stock worth $1,080,000 after buying an additional 79,881 shares during the period. Trexquant Investment LP acquired a new stake in China Unicom (Hong Kong) during the first quarter worth $211,000. Parametric Portfolio Associates LLC increased its stake in China Unicom (Hong Kong) by 48.0% in the first quarter. Parametric Portfolio Associates LLC now owns 191,169 shares of the Wireless communications provider’s stock worth $2,575,000 after buying an additional 62,000 shares during the period. Karp Capital Management Corp acquired a new stake in China Unicom (Hong Kong) during the first quarter worth $7,475,000. Finally, Locust Wood Capital Advisers LLC acquired a new stake in China Unicom (Hong Kong) during the first quarter worth $466,000. Hedge funds and other institutional investors 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.

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

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