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RTNominal down6.330 -0.140 (-2.164%)

06/01/2020 16:38

{I-bank focus}DBS trims China Unicom (00762) to HK$8.3

[ET Net News Agency, 6 January 2020] DBS Group Research lowered its target price for
China Unicom (CU)(00762) to HK$8.3 from HK$9.6 and maintained its "buy" rating.
The research house said CU is undergoing the pilot scheme under the mixed-ownership
reform (MOR) which includes the introduction of new strategic shareholders and employees'
share incentive scheme. The company has implemented restructuring to improve efficiency
and started co-operations with Internet companies to develop new revenue streams.
The market expects China Mobile (00941) to maintain its dominant market share of 60% in
the 5G era. However, the nation-wide implementation of mobile number portability (MNP)
policy will facilitate sub porting and reduce customer stickiness. Co-building and
co-sharing 5G network with China Telecom (00728) will help CU to improve 5G network
coverage and quality to match with CM. (KL)

Remark: Real time quote last updated: 26/02/2020 14:05
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