[ET Net News Agency, 7 June 2018] Credit Suisse lifted its target price for China
Mobile (00941) to HK$93.5 from HK$90, and maintained its "outperform" rating.
With 4G penetration having reached just 72.5% of the population in China as at 31
December 2017, and with relatively low data use per subscriber, China Mobile should be
able to achieve low-to-mid single-digit revenue growth across FY2018-20, said the research
house.
It said China Mobile's capex is on track to decline for a fourth consecutive year in
FY2018. However, Credit Suisse expects a break in this downward trend in FY2019, with the
commencement of 5G roll-out.
The change in depreciation rates for towers constructed by China Tower Corporation
(CTC), from 10% (10 years useful life) to 5% (20 years useful life), effective 1 January
2018 leads Credit Suisse to expect CTC to make a positive associate contribution to the
net profit of the China Mobile in FY2018. (KL)
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Super Quote | Detail Quote | Interactive Chart | Transaction | Related News | Related Securities | Company Information | Dividend Records | Short Sell
00941 CHINA MOBILE
Nominal 
73.750 +0.050 (+0.068%) Others
07/06/2018 17:47
[I-bank focus]CS lifts China Mobile (00941) to HK$93.5
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