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Fly News Breaks for November 9, 2016
CHU, CHA
Nov 9, 2016 | 08:04 EDT
As noted earlier, Bernstein upgraded China Telecom (CHA) to Outperform from Market Perform. Analyst Chris LAne expects China Telecom to lead the Chinese telecom sector in mobile growth going forward, given China Mobile's (CHU) "severe ARPU headwinds" over the next year. The analyst also expects China Telecom to benefit from its launch of LTE on 800MHz, its status as "the leading player in IDC and ICT services" and the Tower Co IPO. Target to $64.37 from $64.46.
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