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China Telecom Assigned an Average Rating of Buy

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Published on : Nov 13, 2015

Six analysts at MarketBeat have assigned an average rating of ‘buy’ to the shares of China Telecom Co. Ltd. Three of the analysts have given the stock a ‘hold’ rating while other three rated the company’s stock with a ‘buy’. The average target price per share for one year on this stock is US$71.00.

Many of the research analysts have recently issued reports on the shares of China Telecom. Credit Suisse kept its previous rating of ‘outperform’ on this stock in a research note released on Aug 17th, 2015. Citigroup Inc., on the other hand, upgraded the telecom giant’s shares from a ‘sell’ to a ‘neutral’ rating in a note released on August 20th, 2015.

The price objective on the stock was reduced from US$77.50 to US$71.00 by Jefferies Group. The firm gave a ‘buy’ rating to the company in its note released on Aug 21st, 2015. Zacks raised the stock from a ‘sell’ to a ‘hold’ rating in a research note issued on Nov 2nd, 2015. At last, Sanford C. Bernstein downgraded this stock from an ‘outperform’ to a ‘market perform’ rating in its note that was issued on Oct 30th, 2015.

During the trading session on Nov 12th, 2015, China Telecom traded up 2.59% and hit US$52.31. A number of 12,871 shares of this stock exchanged hands during the session. The company has a 12 month high of US$78.28 and a 12 month low of US$46.51 and has a market cap of US$42.34 bn with a P/E of 15.39. The company has a moving average price of US$51.29 for 50 days and a moving average price of US$58.00 for 200 days,