HSBC Global Research lowered its target price for China Mobile (00941) to HK$79 from HK$81 and maintained its "buy" rating.
The research house said China Mobile's commentary at results was positive. It has less near-term potential to share with peers due to different spectrum. HSBC suspects also that China Mobile has the least need to share rollout, given its strong balance sheet.
However, when 5G is deployed in the spectrum that it has in common with China Unicom (00762) and China Telecom (00728)(such as 900MHz and 2.1GHz), sharing becomes more feasible.
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