JP MORGAN RAISES ESTIMATIONS ON CHINA TELECOM, CHINA NETCOM
AsiaInfo Services, October, 2005
AsiaInfo Services 10-10-2005 JP Morgan Raises Estimations on China Telecom, China Netcom BEIJING, Oct 10, 2005 (SinoCast via COMTEX) -- JP Morgan recently issued its estimations on China Telecom Corporation Ltd. (China Telecom) and China Netcom Group Corporation (Hong Kong) Ltd. (China Netcom) for 2005 and 2006. After careful evaluation of China Telecom's first-half results, JP Morgan raised the earnings per share estimations of the largest fixed-line phone carrier in the nation for 2005 and 2006 by 2.3% and 2.4%, and kept the target price of CNY 3.3.
It also lifted the discounted cash flow prediction by 2.8% to CNY 3.61 and gave a "neutral" rating. JP Morgan increases the profit estimations of China Netcom for 2005 and 2006 by 38% and 37% to CNY 9.7 billion...
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