[ET Net News Agency, 23 August 2019] Citi Research lowered its target price for China
Telecom (CT)(00728) to HK$3.9 from HK$4.4 and maintained its "neutral" rating.
The research house said CT's 1H net profit of Rmb13.9bn was 9% higher than Citi's
estimate, on good opex control. Deep 5G network sharing with China Unicom (CU)(00762) is a
potential positive to reduce 5G capex/opex pressure and improve 5G network quality.
Management expects broadband ARPU decline pace to narrow in 2H. Citi cut its FY2019-20
earnings by 1-6% each year, mainly on lower revenue assumptions. Fixed broadband and
mobile businesses have more ARPU pressure than our previous estimates due to competition
and high penetration. (KL)
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00728 CHINA TELECOM
Nominal 
4.440 +0.020 (+0.452%) Others
23/08/2019 16:57
{I-bank focus}Citi lowers China Telecom (00728) to HK$3.9
| Remark: | Real time quote last updated: 25/04/2024 15:21 |
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