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<Research>G Sachs Downgrades CHINA TELECOM/ CHINA UNICOM to Neutral as Innovative Biz Growth Expected to Take Time
Recommend 17 Positive 21 Negative 8 |
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Goldman Sachs released a research report holding a positive view on the shift of capital expenditure by Chinese telecoms from traditional telecom network to AI computing infrastructure and new business expansion. However, the broker observed short-term pressure on service business and innovative business growth in China's telecom industry. Therefore, Goldman Sachs downgraded CHINA TELECOM (00728.HK) and CHINA UNICOM (00762.HK) from Buy to Neutral on stagnant growth in telecom services and the need for more time for innovative business acceleration. The broker trimmed its target prices for CHINA TELECOM/ CHINA UNICOM from $7.9/ $11.5 to $6/ $8.8. Goldman Sachs also lowered its 2026/ 2027 earnings forecasts for both companies by 6-7%. AASTOCKS Financial News Website: www.aastocks.com |
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