[ET Net News Agency, 11 September 2020] Goldman Sachs lowered its target price for
China Mobile (CM)(00941) by 3.5% to HK$59.8 mainly due to higher 5G cost assumptions and
lower net cash. Goldman maintained its "neutral" rating.
The research house raised CM 2020 revenue forecast by 2.6% but keep 2021/2022 relatively
unchanged, and it revised up its cost assumptions associated with the 5G network. As a
result, 2020/21/22 net income is +2.3%/-0.1%/+2.6% versus prior estimates. (KL)