[ET Net News Agency, 9 November 2020] Nomura raised its target price for China Unicom
(CU) (00762) to HK$6.5 from HK$6 and maintained its "buy" rating.
The research house said CU's service revenue and earnings grew 5.2% and 10.5%,
respectively, in 3Q, thanks to a recovery in mobile and broadband as well as healthy
growth in the Industry Internet business.
Going forward, Nomura thinks CU will continue to see progressive fundamental recovery,
with easier competition, relatively relaxed policy pressures, and faster 5G subscriber
growth. With potentially more "co-build and co-share" projects with other telcos and
deployment of 5G BTS (base transceiver station) on lower-band 2.1GHz spectrum, the company
is well-positioned to control its capex budget and to achieve a better return on its 5G
investment.
Nomura trimmed its 2022-22 earnings forecasts by 1-5% on higher-than-expected
depreciation expenses. (KL)
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00762 CHINA UNICOM
Nominal 
6.250 +0.250 (+4.167%) Research Report
09/11/2020 14:54
{I-bank focus}Nomura raises China Unicom (00762) to HK$6.5
| Remark: | Real time quote last updated: 10/05/2024 15:12 |
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