[ET Net News Agency, 17 October 2019] Citi Research lifted its target price for China
Unicom (CU)(00762) to HK$11 from HK$10.5 and maintained its "buy" rating.
The research house said CU's 5G network sharing with China Telecom (00728), 2G
spectrum re-farm and mixed-ownership reform could help CU deliver good earnings growth.
Citi expects CU could maintain relatively stable 4G growth with 2G spectrum re-farm. It
believes CU's operational efficiency will improve after mixed-ownership reform, which
together with partnerships with private companies, will help develop new growth drivers
like industrial internet. (KL)