Bank of America Corporation Initiates Coverage on China Unicom (Hong Kong) Ltd (CHU)

Stock analysts at Bank of America Corporation began coverage on shares of China Unicom (Hong Kong) Ltd (NYSE:CHU) in a note issued to investors on Wednesday, August 30th, The Fly reports. The brokerage set a “neutral” rating on the Wireless communications provider’s stock.

Other analysts have also recently issued research reports about the stock. Morgan Stanley cut shares of China Unicom (Hong Kong) from an “overweight” rating to an “underweight” rating in a report on Wednesday, July 5th. Zacks Investment Research upgraded shares of China Unicom (Hong Kong) from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a report on Friday, August 18th. BidaskClub cut shares of China Unicom (Hong Kong) from a “buy” rating to a “hold” rating in a report on Tuesday, June 20th. Finally, CLSA cut shares of China Unicom (Hong Kong) from an “outperform” rating to an “underperform” rating in a report on Wednesday, August 16th. Four research analysts have rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $14.25.

China Unicom (NYSE CHU) traded up 0.85% on Wednesday, reaching $14.20. 201,845 shares of the company traded hands. China Unicom has a 52-week low of $10.84 and a 52-week high of $16.55. The firm has a market cap of $34.00 billion, a P/E ratio of 142.00 and a beta of 0.72. The stock has a 50-day moving average price of $14.82 and a 200-day moving average price of $14.01.

ILLEGAL ACTIVITY WARNING: This report was originally reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this report on another site, it was copied illegally and republished in violation of US and international trademark & copyright laws. The correct version of this report can be viewed at https://ledgergazette.com/2017/09/17/china-unicom-hong-kong-ltd-chu-research-coverage-started-at-bank-of-america-corporation.html.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. increased its position in shares of China Unicom (Hong Kong) by 12.5% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 11,250 shares of the Wireless communications provider’s stock valued at $167,000 after purchasing an additional 1,250 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of China Unicom (Hong Kong) by 17.4% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 967,317 shares of the Wireless communications provider’s stock valued at $14,471,000 after purchasing an additional 143,609 shares during the last quarter. Cubist Systematic Strategies LLC increased its position in shares of China Unicom (Hong Kong) by 70.7% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 17,478 shares of the Wireless communications provider’s stock valued at $261,000 after purchasing an additional 7,239 shares during the last quarter. Royal Bank of Canada increased its position in shares of China Unicom (Hong Kong) by 8.4% during the 2nd quarter. Royal Bank of Canada now owns 1,255,775 shares of the Wireless communications provider’s stock valued at $18,786,000 after purchasing an additional 96,993 shares during the last quarter. Finally, Parametric Portfolio Associates LLC increased its position in shares of China Unicom (Hong Kong) by 2.5% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 195,942 shares of the Wireless communications provider’s stock valued at $2,931,000 after purchasing an additional 4,773 shares during the last quarter. 1.18% of the stock is owned by hedge funds and other institutional investors.

China Unicom (Hong Kong) Company Profile

China Unicom (Hong Kong) Limited is a Hong Kong-based investment holding company principally engaged in the provision of telecommunications services. The Company’s businesses include mobile businesses, fixed-line businesses and others. Its 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.

The Fly

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

Receive News & Ratings for China Unicom (Hong Kong) Ltd Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for China Unicom (Hong Kong) Ltd and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply