According to Zacks, “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. “
A number of other research analysts have also recently issued reports on the stock. UBS Group upgraded shares of China Telecom from a neutral rating to a buy rating in a research note on Thursday, September 26th. Citigroup upgraded China Telecom from a neutral rating to a buy rating in a research report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $57.95.
Large investors have recently made changes to their positions in the company. Brandywine Oak Private Wealth LLC acquired a new stake in shares of China Telecom in the third quarter valued at approximately $214,000. Acadian Asset Management LLC boosted its position in China Telecom by 23.6% in the 2nd quarter. Acadian Asset Management LLC now owns 69,906 shares of the utilities provider’s stock valued at $3,495,000 after buying an additional 13,331 shares during the last quarter. Macquarie Group Ltd. boosted its position in China Telecom by 48.3% in the 2nd quarter. Macquarie Group Ltd. now owns 4,881 shares of the utilities provider’s stock valued at $244,000 after buying an additional 1,589 shares during the last quarter. Aperio Group LLC increased its stake in shares of China Telecom by 15.0% in the 2nd quarter. Aperio Group LLC now owns 681,879 shares of the utilities provider’s stock valued at $34,114,000 after buying an additional 88,931 shares during the period. Finally, Atria Investments LLC acquired a new stake in shares of China Telecom in the 2nd quarter valued at $302,000. Institutional investors own 0.50% of the company’s stock.
About China Telecom
China Telecom Corporation Limited, together with its subsidiaries, provides wireline and mobile telecommunications services primarily in the People's Republic of China. It offers wireline voice services, including local wireline telephone services and long distance wireline services; CDMA mobile voice services, such as local calls, domestic and international long distance calls, intra-provincial roaming, and inter-provincial roaming and international roaming; wireline Internet access services comprising dial-up and broadband services; wireless Internet access services; and wireline, Internet, and mobile value-added services.
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