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＜Research＞Nomura Elevates CHINA MOBILE TP to $89 as Firm Remains Core Defensive Stock Despite Expected Slowdown in 2Q Rev. Growth
Nomura kept rating at Buy on CHINA MOBILE (00941.HK) -1.100 (-1.450%) Short selling $252.84M; Ratio 16.388% , and elevated its target price from $79 to $89.
CHINA MOBILE remains a core defensive stock in its coverage, even though its 2Q24 revenue growth is expected to slow, especially in the government and enterprise businesses, Nomura said.
Related NewsJPM Upgrades ZTE (00763.HK) to Neutral, Top Picks CHINA MOBILE (00941.HK) Among CN Telecoms
The Company's strong balance sheet and cash position should support the dividend, leading to a sustainable high single-digit dividend yield.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-07-18 16:25.)
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