[ET Net News Agency, 3 August 2020] Nomura lowered its target price for China Mobile
(CM)(00941) to HK$70 from HK$72 and maintained its "buy" rating.
The research house thinks CM is well-positioned as a 5G player in China, owing to its
flexibility in 5G spectrum of 2.6GHz and 4.9GHz as well as "co-build co-share" agreement
with China Broadcasting Network (CBN) in 700MHz, helping the company to exert a prudent
control on its 5G spending.
CM has accumulated over 70mn 5G package subs in 1H, and Nomura thinks it will see an
acceleration in 5G customer migration in 2H. Nomura cut its 2020-22 earnings forecasts by
0.6-2.1% on cost pressures on the 5G network. (KL)
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00941 CHINA MOBILE
Nominal 
71.050 +0.250 (+0.353%) Research Report
03/08/2020 17:51
{I-bank focus}Nomura lowers China Mobile (00941) to HK$70
| Remark: | Real time quote last updated: 26/04/2024 17:41 |
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