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Fly News Breaks for April 15, 2015
CHU, CHL, CHA
Apr 15, 2015 | 07:29 EDT
Bernstein upgraded China Telecom (CHA) as part of its upgrade of the Chinese telecom sector. The firm believes that the telecom market is undervalued and its growth outlook is strong, while the broadening of the connection between the Hong Kong and Shanghai stock markets will cause more Chinese citizens to invest in telecom stocks. Additionally, the firm thinks that the slated launch of a joint telecom network infrastructure company will boost the sector. China Telecom target to $83.73 from $61.83. Bernstein continues to recommend China Mobile (CHL) for long-term investors and prefers China Telecom over China Unicom (CHU).
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