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China Telecom Gapped down US$072, Reached US$4742/Share

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Published on : Dec 04, 2015

The stock of China Telecom Corp. Ltd. gapped down by US$0.72, reaching US$47.42 per share on Dec 4th, 2015. The price target for company has also gone down by 8% at US$43.63 per share. Analysts fear that if the stock tumbles down further and reach this target, the company would suffer a loss of US$3.21 bn. At present, the Telecom Company stands at a value of US$40.13 bn.

The company is facing a high risk, indicates the 5 months technical chart. The stock is trading down US$1.48 or 3.03% after the news broke, declining to US$47.42 per share.

Almost 38,120 shares changed hands on Dec 04th, 2015, which was 3.2% up from the average. China Telecom Corp. Ltd. is down-trending sing April 2015. It has dropped down 34.08% since April 30th, 2015. It has also underperformed by 33.8% at the S&P 500 index.

At StockzIntelligence Inc., out of four analysts that cover China Telecom, two have rated it with a ‘Buy’ rating, one has given a ‘Hold’, while one has rates it with a ‘Sell’. On the whole, the stock looks 67% positive.

China Telecom Corp. Ltd. is a state-owned telecom enterprise in the People’s Republic of China. The firm operates domestic telephone networks in 10 Chinese provinces, providing wireless local loop as well as network-based voice, video, multimedia, data, and information services. It is also involved in the global telecom service settlement and is expanding into overseas markets.