[ET Net News Agency, 20 April 2020] Goldman Sachs tweaked its target price for China
Tower (00788) to HK$2.03 from HK$2.04 and maintained its "buy" rating.
The research house said China Tower's 1Q unaudited key performance indicators were in
line, especially given the business disruption caused by COVID-19. Over the past few
months, Goldman believes there's a good chance of telcos raising their base station
targets without raising capex. It forecast 750k 5G base stations in 2020.
Post 1Q results, Goldman revised down its 2020-22 earnings forecast by 1.8%-2.7%. (KL)