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00762 CHINA UNICOM
RTNominal up6.040 +0.070 (+1.173%)
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30/10/2017 17:52

[I-bank focus]HSBC lifts China Unicom (00762) to HK$14.8

[ET Net News Agency, 30 October 2017] HSBC Global Research raised its target price for
China Unicom (CU)(00762) to HK$14.8 from HK$14.1, and maintained its "buy" rating.
The research house said CU posted strong numbers for 3Q. Service revenue growth expanded
to 6.7% YoY compared with 5.2% in the first half on an improvement in subscriber mix and
strong net additions. CU has added 13m subscribers year-to-date and is already ahead of
its 11m target.
But it noted that handset sales were lower than HSBC had forecast, hence, the research
house cut its estimates. However, profit in the mobile business is developing well, and
HSBC lifted its 2017/18 estimates by 2-3%. (KL)

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