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02342 COMBA
RTNominal up2.550 +0.230 (+9.914%)

28/11/2019 14:11

{I-bank focus}Goldman lifts Comba Telecom (02342) to HK$2.6

[ET Net News Agency, 28 November 2019] Goldman Sachs lifted its target price for Comba
Telecom Systems (02342) to HK$2.6 from HK$2.5 and maintained its "buy" rating.
The research house raised its China 5G BTS (base station) unit forecasts to 1mn/1.1mn in
2020/21 (versus 600k/800k previously) to reflect our expectations of a faster 5G rollout
in China.
Goldman believes the increase in 5G base stations will boost 5G antenna demand
proportionally as each 5G base station typically has three antennas, leading to a total 5G
antenna demand of 3mn/3.3mn units in 2020/21 in China.
It also lowered its 4G BTS unit forecasts to 200k/0 in 2020/21 (versus 370k/185k
previously) as China telcos shift their network rollout focus to 5G. Goldman expects
China's 5G acceleration to benefit antenna maker Comba Telecom given it is the second
largest antenna maker by revenue market share (after Huawei) in China. (KL)

Remark: Real time quote last updated: 17/01/2020 17:59
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