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Research Report

20/04/2021 15:47

{I-bank focus}HSBC lowers China Tower (00788) to HK$1.5

[ET Net News Agency, 20 April 2021] HSBC Global Research lowered its target price for
China Tower (00788) to HK$1.5 from HK$1.6 and maintained its "buy" rating.
The research house said EBITDA was slightly lower than its estimate, likely reflecting
investment in growth business, but still up 7% YoY, slightly lower than the overall
revenue growth rate as opex increased 8.5%. It reduces its long-term EBITDA estimates,
expecting continued investments in new business support. (RC)

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