[ET Net News Agency, 20 March 2020] HSBC Global Research lowered its target price for
China Mobile (CM)(00941) to HK$64 from HK$79 and maintained its "buy" rating.
The research house thinks CM's commentary should ease concerns. Capex guidance of
RMB179.8bn (up 8.4%) was lower than both HSBC's estimate, and the company guided for no
large increase in 2021 and 2022. More than RMB100bn will go to 5G, with "at least" 250k 5G
base station net additions this year.
HSBC modeled 300k and believes that this pace will meet government requirements and
reflects the necessary caution for the business case.
It said the near-term outlook is tough, with the company aiming for flat earnings in
2020. The 5G business case remains uncertain, but adoption by enterprise customers is a
potential positive. (KL)
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00941 CHINA MOBILE
Nominal 
67.850 -0.600 (-0.877%) Research Report
20/03/2020 17:46
{I-bank focus}HSBC lowers China Mobile (00941) to HK$64
| Remark: | Real time quote last updated: 16/04/2024 17:59 |
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