[ET Net News Agency, 20 March 2020] CICC Research maintained its target price for China
Mobile (CM)(00941) unchanged at HK$65 but upgraded its rating to "outperform" from
"neutral".
The research house thinks it's time to buy on dips. It estimated that CM will maintain
stable growth as it launches 5G service, with 5G user ARPU rising 6.5% after the
transition from 4G. CM plans to gain about 70mn 5G users, which would narrow its mobile
ARPU decline.
CM decided to extend the 4G equipment depreciation period to seven years from five
years, saving Rmb18.3bn D&A costs in 2020, which could offset rising maintenance and
utility expenses from 5G. Hence, CICC raised its 2020-21 net profit by 12.6% and 12.7%.
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00941 CHINA MOBILE
Nominal 
73.500 +1.450 (+2.012%) Research Report
20/03/2020 17:15
{I-bank focus}CICC ups China Mobile (00941) to "outperform"
| Remark: | Real time quote last updated: 24/09/2024 17:59 |
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