＜Research＞Nomura Lifts CHINA TELECOM (00728.HK) TP to $5.8, Expects Service Rev. Growth to Outperform Sector

　　Nomura released a research report lifting its target price on CHINA TELECOM (00728.HK) -0.060 (-1.266%) Short selling $22.09M; Ratio 5.279% from $5.1 to $5.8, with rating kept at Buy. Nomura believed that the stock is still attractive due to upside for dividend.

　　Nomura believed that CHINA TELECOM's service revenue growth will remain outperforming the industry average in 2Q24, benefiting from the stable core business despite a slowdown in emerging business segments such as cloud, IoT and international data center business.

　　Related NewsFirst Shanghai: HSI May Rise to 21,000 in 2H, Eyes High Div. Yielders, Techs, High-end Manufacturers

　　The cloud business of CHINA TELECOM may slow down due to the weakening macro environment and high base, but the Company is carefully controlling its expenses, which may lead to better net profit margin, Nomura added.

　　(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-07-18 16:25.)

　　AAStocks Financial News