[ET Net News Agency, 28 November 2019] Goldman Sachs tweaked its target price for China
Tower (00788) to HK$2 from HK$1.95 and upgraded its rating to "buy" from "neutral" on 5G
deployment acceleration and attractive valuation.
The research house believes the pace of 5G base station deployment in China is
accelerating. It now raised its 5G base station forecasts for 2019-2021, while at the same
time factoring in a 6% base price decline to account for pricing pressure from the telcos.
Goldman forecast a dividend payout ratio of at least 60% in 2019E, implying a 1.2%
dividend yield, and increasing to 3.4% by 2022. It believes the accelerated deployment of
5G in China should drive company revenue growth to accelerate in the next three years
(2020-2022) at a CAGR of 9.5%. (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 0.000 (0.000%) Research Report
28/11/2019 11:24
{I-bank focus}Goldman tweaks China Tower (00788) to HK$2
| Remark: | Real time quote last updated: 24/04/2024 17:59 |
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