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00762 CHINA UNICOM
RTNominal down5.980 -0.010 (-0.167%)
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23/10/2020 17:26

Guotai Junan trims China Unicom (00762) to HK$6.5

[ET Net News Agency, 23 October 2020] Guotai Junan International lowered its target
price for China Unicom (CU) (00762) to HK$6.5 from HK$7 and maintained its "buy" rating.
The research house said CU's 1Q-3Q FY2020 results were basically in line with its
expectations. Guotai Junan expects mobile services revenue to increase in 4Q.
Due to the easing of market competition, CU's strategy to improve user quality, and the
rising proportion of 5G users, Guotai Junan expects mobile ARPU to still increase in 4Q.
It revised down its FY2020-22 EPS forecasts by 4.6%/1.0%/1.2%, respectively. (KL)

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