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HSBC Research Ramps Up CHINA TOWER (00788.HK) TP to $2.41; Rated Buy
2019-07-17 11:29:32
HSBC Global Research projected CHINA TOWER (00788.HK) to post a 8.9% YoY rise in 1H19 overall revenue and a 5.5% YoY growth in tower leasing revenue. Further, its distributed antenna systems revenue growth is expected to speed up from 2H18 to over 43% YoY. China Tower's EBITDA margin would stay flat at 58.2% on higher labor costs from new business development.

Overall, China Tower was retained at Buy, with target up from $2.25 to $2.41.

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