New Street: China Telecom (Buy, TP: HK$3.0, +17%) Feedback from Small Group Call with IR
We hosted a call this evening HK time with IR at China Telecom. A much more bullish message on growth (revenue & profit) & capex than in the past, coupled with yesterday’s increase in the dividend payout ratio makes China Telecom look compelling at this stage for those allowed to invest; Target remains HK$ 3.0/share.
Provided by our team of experienced analysts, our work is idea driven, based on independence of thought, sector expertise, and firmly focussed on fundamentals and valuation.
New Street Research is an independent, partner-owned, research firm specialising in equity and debt research. Our equity research embraces the following sectors:
- Pan European Telecom Services and Cable
- US Telecoms, Cable, Satellite and Towers
- Global Emerging Market Telecoms
- Japan Telecoms
- Asian Internet
- Pan European Healthcare
- Global healthcare thematic research
We provide debt research on:
- Pan European Telecom Services and Cable
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