[ET Net News Agency, 15 September 2017] Deutsche Bank cut its target price for China
Mobile (CM)(00941) to HK$112 from HK$114, and maintained its "buy" rating.
The research house said CM delivered the strongest underlying 2Q results, with EBITDA up
6.2% YoY, supplemented by a substantial special, which should take its full-year payout to
100%.
However, the market seems to have largely moved on, giving no credit for the operational
performance and potential future payouts, leaving its year-to-date total shareholder
return of 5.5% worse than the appreciation in RMB (7% versus HKD).
CM now trades at 12.3x FY2017 P/E, 1.3 P/E points below China Telecom (00728) (9.3x
adjusted for cash), which is too cheap versus the regional incumbents. DB does not see CM
as a value trap given its strong market position.
It retained CM as its top pick in the sector, followed by China Unicom (00762) and China
Telecom. (KL)
|
|
|
|
|
|
|
|
|
|
Super Quote | Detail Quote | Interactive Chart | Transaction | Related News | Related Securities | Company Information | Dividend Records | Short Sell
00941 CHINA MOBILE
Nominal 
73.500 +1.450 (+2.012%) Research Report
15/09/2017 17:50
[I-bank focus]DB cuts China Mobile (00941) to HK$112
| Remark: | Real time quote last updated: 24/09/2024 17:59 |
| Real-time basic market prices of Hong Kong securities are provided by HKEx; a Designated Website authorized by the HKEx Group to provide the Service |