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CHA.N

ISIN: US1694261033
SEDOL: 2026565

Rating:

HOLD

Target Price:

49.02 USD

Investment Horizon:

6 to 24 months
5th May 2009 View Report   Download

Company News Alert

China Telecom Corporation Ltd's (China Telecom) common stock achieved our target price on 30 April 2009, reflecting the company’s strong fundamental outlook and an increase of 11.75% in the Hang Seng Index. Going forward, we continue to expect revenues to grow over the next two years due to an anticipated increase in non-voice revenues and CDMA revenues. Although we have a positive outlook for the company as the common stock is…

20th Apr 2009 View Report   Download

1Q 09 News Alert

0n 20 April 2009, China Telecom Corporation Limited (CTL), reported 1Q 09 revenues, EBITDA and net income figures. Although CTL reported growth in revenues in 1Q 09, net income EBITDA registered a decline. Going forward, we continue to expect revenues to grow over the next two years due to an anticipated increase in non-voice revenues and CDMA revenues. In light of these factors, although the current price supports a HOLD rating…

6th Apr 2009 View Report   Download

FY 2008 Update Report

The relatively low level of wireless penetration in China offers tremendous opportunity for the CDMA business, reflected by robust growth in CDMA subscriber-base. However, as the demand for communication is greater from rural areas, characterized by typically low end subscribers, Average Revenue per User (ARPU) is expected to decline, further impacted by an anticipated increase in competition due to the revamp of the telecom industry. Nevertheless…

24th Mar 2009 View Report   Download

FY 2008 News Alert

While China Telecom Corporation Limited’s (CTL) revenues were in line with our estimate, margins were below our estimates in FY 2008. Although we expect to revise our target price for the common stock downwards in light of lower-than-expected margins, as the current stock price trades significantly below our target price we do not expect a change in our current BUY rating for the common stock. Although we expect to reduce our common stock…

29th Oct 2008 View Report   Download

Company News Alert

CLICK VIEW REPORT TO READ FREE REPORT

We believe the recent decline in China Telecom Corporation Ltd’s (China Telecom) common stock is due to general weakness in global equity markets and a slowdown in the US economy. Going forward, we expect revenues to grow over the next two years, due to an anticipated increase in non-voice revenues. In light of these factors and given current price levels we do not anticipate a change in our current rating....