Latest Search
Quote
| Back Zoom + Zoom - | ||||
|
<Research>M Stanley Cuts HKT-SS (06823.HK) TP to $10, Reiterates Rating at Overweight
Recommend 34 Positive 70 Negative 32 |
||||
|
||||
|
Morgan Stanley issued a research report reiterating rating on HKT-SS (06823.HK) at Overweight on the basis of its resilient growth amidst ongoing fierce competition. However, Morgan Stanley cut its target price on the Company to $10 from $10.5, while maintaining a cautious view on other sector operators, as they are more susceptible to price competition, leading to more uncertainty in growth. PCCW (00008.HK)'s dividend declaration in 1H24 will be a key catalyst. The high-end market continued to grow steadily with limited competition pressure due to customer loyalty, network quality and brand awareness. However, price wars will continue in the low-end market. As a result, Morgan Stanley expected PCCW's mobile data business revenue to rise 3% YoY in 1H24. SMARTONE TELE (00315.HK) will see a 3% YoY decrease, while HUTCHTEL HK (00215.HK) will see a 6% YoY decline. Morgan Stanley lowered its target prices on SMARTONE TELE/ PCCW from $4.5/ $3.7/ to $4/ $3.5, with both ratings kept at Equalweight. Morgan Stanley's target prices for HUTCHTEL HK/ HKBN (01310.HK) were $1.1/ $2.2, with rating kept at Equalweight/ Underweight. AAStocks Financial News |
||||
Copied to Clipboard
 |
||||
