Today’s Rating: Nomura Reports Upgrade of China Telecom (NYSE:CHA) from Neutral to Buy Rating

November 30, 2016 - By Marie Mckinney

Today's Rating:  Nomura Reports Upgrade of China Telecom (NYSE:CHA) from Neutral to Buy Rating

China Telecom (NYSE:CHA) Upgrade

Trading of China Telecom (NYSE:CHA)‘s shares is going to be interesting today. Nomura upgraded the stock from a Neutral to a Buy.

China Telecom Corporation Limited (ADR) (NYSE:CHA) Ratings Coverage

Out of 4 analysts covering China Telecom (NYSE:CHA), 3 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 75% are positive. China Telecom has been the topic of 8 analyst reports since August 21, 2015 according to StockzIntelligence Inc. The firm earned “Overweight” rating on Friday, November 11 by Morgan Stanley. Bernstein upgraded the stock to “Outperform” rating in Wednesday, November 9 report. The stock of China Telecom Corporation Limited (ADR) (NYSE:CHA) has “Sell” rating given on Friday, August 14 by Zacks. The stock of China Telecom Corporation Limited (ADR) (NYSE:CHA) has “Outperform” rating given on Tuesday, August 18 by Credit Suisse. Citigroup upgraded the shares of CHA in a report on Thursday, August 20 to “Neutral” rating. Citigroup downgraded the shares of CHA in a report on Wednesday, June 15 to “Neutral” rating. Bernstein downgraded the shares of CHA in a report on Friday, October 30 to “Mkt Perform” rating.

The stock increased 4.07% or $1.91 on November 30, hitting $48.87. About 294,406 shares traded hands or 282.18% up from the average. China Telecom Corporation Limited (ADR) (NYSE:CHA) has declined 5.17% since April 27, 2016 and is downtrending. It has underperformed by 10.40% the S&P500.

China Telecom Corporation Limited is an investment holding firm principally engaged in telecommunications and related businesses. The company has a market cap of $39.51 billion. The Firm operates through seven businesses. It has a 12.76 P/E ratio. Wireline Voice Services include local and long distance wireline services.

According to Zacks Investment Research, “China Telecom Corporation is a state-owned telecommunications company in China. They operate local telephone networks in ten provinces in China. They operate domestic and international fixed-line networks and infrastructure including wireless local loop, as well as telecom network-based voice, data, video, multimedia and information services. They are also engaged in international telecom service settlement and expand into overseas markets.”

CHA Company Profile

China Telecom Corporation Limited, incorporated on October 10, 2002, is an integrated information service well-known provider in the People’s Republic of China (PRC). The Firm offers a range of telecommunications services, including wireline voice services, mobile voice services, Internet access services, value-added services, integrated information application services, telecommunications network resource services and lease of network equipment and other related services. It supports a range of end-to-end telecommunications services and enables customized products to be delivered for a range of telecommunications needs.

More news for China Telecom Corporation Limited (ADR) (NYSE:CHA) were recently published by: Marketwatch.com, which released: “China Telecom Corp. Ltd. ADR” on August 27, 2009. Bidnessetc.com‘s article titled: “Alibaba Group Holding Ltd (BABA), China Telecom Corporation Limited (ADR) Team …” and published on April 24, 2015 is yet another important article.

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