[ET Net News Agency, 18 September 2019] Goldman Sachs lifted its target price for China
Unicom (CU)(00762) to HK$10.3 from HK$10.1 and upgraded its rating to "buy" from
"neutral".
The research house believes CU stands to benefit from potential 5G co-build/co-share.
With the collaboration with China Telecom (00728), the company will be able to expand
network coverage, enhance network quality and tap into the broader customer base.
Goldman forecast CU mobile subs market share to steadily increase to 22% by 2021 from
20% in 2018, driving the total subscriber base to grow at a 3-year CAGR of 7.2%.
Goldman factored in (1) weaker 1H result, (2) increased mobile subscriber market share,
and (3) revised HKD/CNY forex assumption (from 1.17 to 1.1). Hence, it lowered 2019-2021
EPS forecasts by up to 3%. (KL)
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00762 CHINA UNICOM
Nominal 
5.860 -0.060 (-1.014%) Others
18/09/2019 10:59
{I-bank focus}Goldman lifts China Unicom (00762) to HK$10.3
| Remark: | Real time quote last updated: 16/04/2024 17:59 |
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