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<Research>BOCI Keeps CHINA TELECOM as Industry Top Pick, Lowers TP to HKD7.85
Recommend 1 Positive 3 Negative 0 |
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CHINA TELECOM (00728.HK) saw a 0.5% YoY increase in 2025 earnings, shy of forecasts, according to a report from BOCI. Its service revenue grew by only 0.7% YoY, while its investment structure leaned further toward infrastructure investment. Despite the impact of the VAT hike, the management remains confident in driving revenue and profit growth this year through Token, intelligent computing centers, and cloud security services. BOCI has reiterated a Buy rating for CHINA TELECOM but trimmed its target price from HKD9.84 to HKD7.85. CHINA TELECOM remains as BOCI's top pick among Chinese telecom operators, as its valuation is attractive with improved earnings visibility and a solid shareholder return commitment. AAStocks Financial News |
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