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Fly News Breaks for September 17, 2019
CHL, CHA, CHU
Sep 17, 2019 | 09:07 EDT
Goldman Sachs analyst Tina Hou upgraded China Unicom (CHU) to Buy from Neutral after the company and China Telecom (CHA) announced an agreement to collaboratively build one nationwide 5G network. Hou expects the two smaller operators will now have a network that's on par with their larger rival China Mobile (CHL) in terms of coverage and depth and expects the pair to reach a combined market share of 45% by 2021. Hou raised her price target on China Unicom ADRs to $13.20 from $13.00.
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