[ET Net News Agency, 26 August 2020] Morgan Stanley raised its target price for China
Unicom (CU)(00762) to HK$8 from HK$6.5 and maintained its "overweight" rating.
The research house increased CU's service revenue by 1% in 2020-22 mainly due to higher
fixed-line revenue assumptions due to continued rational competition and CU's continued
focus on customer quality. As a result, net profit increases by 3-5.5% in 2020-22 due to
operating leverage.
Morgan said CU's 1H result beat expectations on robust industrial internet growth. Its
strategy to focus on the quality of customers is also starting to bear fruit. Morgan also
assumed a better working capital outlook for CU, given the strong growth of industrial
internet business and continued digitalization of industries. (KL)
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00762 CHINA UNICOM
Nominal 
6.050 +0.080 (+1.340%) Research Report
26/08/2020 17:08
{I-bank focus}Morgan raises China Unicom (00762) to HK$8
| Remark: | Real time quote last updated: 25/04/2024 15:20 |
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