[ET Net News Agency, 17 July 2020] Jefferies Research lifted its target price for China
Unicom (CU)(00762) to HK$7.63 from HK$7.44 and maintained its "buy" rating.
The research house said the target price hike reflects a better-than-expected revenue
growth as evidenced by the MIIT stats and ongoing pricing/subsidy discipline. Consensus
has fallen but fundamentals are steadily improving.
Jefferies said the company would benefit from strong growth in industrial Internet,
possible re-rating of their IDC/cloud business, and ongoing mobile recovery. (KL)