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Fly News Breaks for April 14, 2019
CHA, CHL
Apr 14, 2019 | 22:04 EDT
Goldman Sachs analyst Tina Hou upgraded China Telecom (CHA) to Buy from Neutral and raised her price target for the shares to $65 from $53. Hou coupled the upgrade with a downgrade of China Mobile (CHL) to Neutral from Buy. The analyst expects continued mobile subscriber market share gains for China Telecom This should drive increasing market share gain in mobile service revenue as well as "industry-leading" revenue and EBITDA growth, Hou tells investors in a research note. The analyst calls China Telecom her top pick among China telco operators.
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