Credit Suisse Group Upgrades China Unicom (Hong Kong) (NYSE:CHU) to “Outperform”

Credit Suisse Group upgraded shares of China Unicom (Hong Kong) (NYSE:CHU) from a neutral rating to an outperform rating in a research report report published on Wednesday, Briefing.com Automated Import reports.

A number of other equities analysts have also weighed in on CHU. New Street Research upgraded China Unicom (Hong Kong) from a neutral rating to a buy rating in a research note on Friday, May 3rd. Zacks Investment Research lowered China Unicom (Hong Kong) from a hold rating to a sell rating in a research note on Monday, August 5th. Finally, UBS Group upgraded China Unicom (Hong Kong) from a neutral rating to a buy rating in a research note on Monday, June 10th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $12.00.

Shares of NYSE CHU traded up $0.71 during trading hours on Wednesday, reaching $9.87. 9,338 shares of the stock were exchanged, compared to its average volume of 317,266. The company has a market cap of $28.00 billion, a price-to-earnings ratio of 19.74 and a beta of 1.01. The company has a quick ratio of 0.34, a current ratio of 0.35 and a debt-to-equity ratio of 0.01. China Unicom has a 52 week low of $9.05 and a 52 week high of $13.66. The company’s fifty day simple moving average is $10.22.

Several hedge funds and other institutional investors have recently made changes to their positions in CHU. BlackRock Inc. increased its stake in China Unicom (Hong Kong) by 64.4% during the 2nd quarter. BlackRock Inc. now owns 3,194,579 shares of the Wireless communications provider’s stock worth $34,821,000 after acquiring an additional 1,250,819 shares during the period. Renaissance Technologies LLC increased its stake in China Unicom (Hong Kong) by 19.5% during the 2nd quarter. Renaissance Technologies LLC now owns 3,739,030 shares of the Wireless communications provider’s stock worth $40,755,000 after acquiring an additional 610,574 shares during the period. Morgan Stanley increased its stake in China Unicom (Hong Kong) by 20.5% during the 2nd quarter. Morgan Stanley now owns 2,233,243 shares of the Wireless communications provider’s stock worth $24,342,000 after acquiring an additional 379,758 shares during the period. Renaissance Group LLC increased its stake in China Unicom (Hong Kong) by 35.7% during the 1st quarter. Renaissance Group LLC now owns 1,339,446 shares of the Wireless communications provider’s stock worth $17,145,000 after acquiring an additional 352,031 shares during the period. Finally, Marshall Wace North America L.P. bought a new position in China Unicom (Hong Kong) during the 1st quarter worth $2,374,000. Institutional investors own 1.05% of the company’s stock.

China Unicom (Hong Kong) Company Profile

China Unicom (Hong Kong) Limited, an investment holding company, provides cellular and fixed-line voice, and related value-added services in the People's Republic of China. It also provides broadband and other Internet-related services, information communications technology services, and business and data communications services.

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Analyst Recommendations for China Unicom (Hong Kong) (NYSE:CHU)

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