[ET Net News Agency, 17 July 2020] Jefferies Research raised its target price for China
Tower (00788) to HK$2.18 from HK$2.12 and maintained its "buy" rating.
The research house said China Tower has fallen but near-term earnings have downside and
newsflow likely negative. Although its DCF-based target price implies 48% upside,
Jefferies is cautious since, despite a falling consensus, it is still 14% below for 2020
net profit and 10% below for operating profit.
For 1H, Jefferies is 6% below at operating profit. However, its 2021 revenue/profit are
2%/6% above consensus as the research house believes the bulk of the 5G BTS (base
transceiver station) additions' benefit this year will show up in 2021/2.
However, Jefferies also sees a high risk of 5G slowdown next year in China driven by
Huawei's potential inability to deliver 5G equipment. (KL)
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Super Quote | Detail Quote | Interactive Chart | Transaction | Related News | Related Securities | Company Information | Dividend Records | Short Sell
00788 CHINA TOWER
Nominal 
0.900 +0.010 (+1.124%) Others
17/07/2020 17:48
{I-bank focus}Jefferies lifts China Tower (00788) to HK$2.18
| Remark: | Real time quote last updated: 23/04/2024 15:34 |
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