Shares of China Telecom Corp Ltd (NYSE:CHA) have received an average recommendation of “Buy” from the eight ratings firms that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $55.00.
Several brokerages recently issued reports on CHA. Bank of America Corporation began coverage on China Telecom Corp in a report on Wednesday, August 30th. They issued a “buy” rating for the company. Zacks Investment Research downgraded China Telecom Corp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 23rd. Finally, BidaskClub downgraded China Telecom Corp from a “sell” rating to a “strong sell” rating in a report on Thursday, June 22nd.
Institutional investors have recently made changes to their positions in the company. Diversified Trust Co acquired a new stake in shares of China Telecom Corp during the second quarter valued at about $208,000. Bank of Montreal Can grew its stake in shares of China Telecom Corp by 1.5% during the first quarter. Bank of Montreal Can now owns 7,545 shares of the utilities provider’s stock valued at $367,000 after acquiring an additional 108 shares in the last quarter. Morgan Stanley grew its stake in shares of China Telecom Corp by 42.0% during the first quarter. Morgan Stanley now owns 28,581 shares of the utilities provider’s stock valued at $1,391,000 after acquiring an additional 8,449 shares in the last quarter. Credit Suisse AG grew its stake in shares of China Telecom Corp by 7.5% during the first quarter. Credit Suisse AG now owns 205,667 shares of the utilities provider’s stock valued at $10,010,000 after acquiring an additional 14,292 shares in the last quarter. Finally, Acadian Asset Management LLC grew its stake in shares of China Telecom Corp by 109.6% during the second quarter. Acadian Asset Management LLC now owns 10,280 shares of the utilities provider’s stock valued at $493,000 after acquiring an additional 5,375 shares in the last quarter. Institutional investors own 0.41% of the company’s stock.
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China Telecom Corp (NYSE CHA) opened at 50.97 on Friday. The stock has a market capitalization of $41.25 billion, a price-to-earnings ratio of 14.56 and a beta of 0.62. The company has a 50-day moving average price of $49.27 and a 200-day moving average price of $48.66. China Telecom Corp has a 12-month low of $45.58 and a 12-month high of $53.61.
About China Telecom Corp
China Telecom Corporation Limited is an investment holding company principally engaged in telecommunications and related businesses. The Company provides integrated information services, including wireline and mobile telecommunications services, Internet access services, information services and other value-added telecommunications services.
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