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00763 ZTE
RTNominal unchange26.100 0.000 (0.000%)
Research Report

18/03/2021 17:50

{I-bank focus}Goldman lifts ZTE (00763) to HK$25; "neutral"

[ET Net News Agency, 18 March 2021] Goldman Sachs lifted its target price for ZTE
Corporation (00763) to HK$25 from HK$22 and maintained its "neutral" rating as it expects
a slowing growth momentum beyond 2021.
The research house raised its estimates for ZTE in conjunction with its upward revision
in 5G BTS (base transceiver station) estimates. Goldman raised its 5G BTS spending by 17%
for 2021 to US$14.8bn to factor in an increase in lower-spec BTS from 5G on 700MHz.
It expects ZTE to capture a higher market share of 32%/35% in 2021/22, given share
consolidation in China. Goldman raised its net profit estimates by 14%/2% in 2021/22. (KL)

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