Follow The Ratings: Nomura Reports Downgrade of China Unicom (NYSE:CHU) from Buy to Neutral Rating

November 30, 2016 - By Michael Collier

Follow The Ratings: Nomura Reports Downgrade of China Unicom (NYSE:CHU) from Buy to Neutral Rating

China Unicom (NYSE:CHU) Downgrade

Nomura gave China Unicom (NYSE:CHU) shares a new Neutral rating in a a research note revealed to investors and clients on 30 November. This is cut from the old Buy rating.

China Unicom (Hong Kong) Limited (ADR) (NYSE:CHU) Ratings Coverage

Out of 7 analysts covering China Unicom (NYSE:CHU), 5 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 71% are positive. $18 is the highest target while $15.90 is the lowest. The $15.90 average target is 32.17% above today’s ($12.03) stock price. China Unicom has been the topic of 12 analyst reports since July 31, 2015 according to StockzIntelligence Inc. The firm earned “Buy” rating on Friday, October 23 by Jefferies. The firm has “Buy” rating given on Thursday, February 4 by HSBC. The rating was upgraded by Goldman Sachs to “Buy” on Thursday, September 22. HSBC upgraded the shares of CHU in a report on Friday, July 31 to “Hold” rating. The firm earned “Hold” rating on Monday, October 24 by Deutsche Bank. Morgan Stanley upgraded China Unicom (Hong Kong) Limited (ADR) (NYSE:CHU) on Wednesday, April 6 to “Overweight” rating. The company was upgraded on Thursday, August 18 by Bernstein. The rating was downgraded by Jefferies to “Hold” on Monday, July 18. The company was upgraded on Monday, August 24 by Jefferies. The rating was upgraded by Deutsche Bank to “Buy” on Wednesday, March 30.

The stock increased 6.65% or $0.75 during the last trading session, hitting $12.03. About 892,600 shares traded hands or 222.70% up from the average. China Unicom (Hong Kong) Limited (ADR) (NYSE:CHU) has declined 6.39% since April 27, 2016 and is downtrending. It has underperformed by 11.62% the S&P500.

China Unicom Limited is a Hong Kong investment holding firm principally engaged in the provision of telecommunications services. The company has a market cap of $28.95 billion. The Company’s businesses include mobile businesses, fixed-line businesses, enterprise businesses and international businesses. It has a 50.03 P/E ratio. The Company’s mobile businesses include the provision of call services, roaming services, mobile broadband services, traditional value-added services such as short message services, multimedia message services and wireless Internet access card, as well as new value-added services such as mobile music, mobile television and Wo portal services.

According to Zacks Investment Research, “China Unicom Limited is engaged in the provision of cellular, paging, long distance, data and internet services in the People’s Repulic of China.”

CHU Company Profile

China Unicom (Hong Kong) Limited, incorporated on February 8, 2000, is an investment holding company. The Firm is an integrated telecommunications operator. The principal activities of the Company’s subsidiaries are the provision of cellular and fixed-line voice and related services, broadband and other Internet-related services, information communications technology services, and business and data communications services in the People’s Republic of China (PRC).

More news for China Unicom (Hong Kong) Limited (ADR) (NYSE:CHU) were recently published by: Marketwatch.com, which released: “China Unicom (Hong Kong) Ltd. ADR” on August 28, 2009. Quotes.Wsj.com‘s article titled: “DOW JONES, A NEWS CORP COMPANY” and published on February 11, 2011 is yet another important article.

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