Auriga Initiates Coverage on China Unicom Hong Kong

Equities research analysts at Auriga initiated coverage on shares of China Unicom Hong Kong (NYSE: CHU) in a research note to clients and investors on Wednesday. The analysts set a “hold” rating and a $14.00 price target on the stock.
China Unicom (Hong Kong) Limited (China Unicom) is an integrated telecommunications operator in China providing mobile voice and value-added, fixed-line voice and value-added, fixed-line broadband, data communications and other telecommunications services to its customers through two business segments comprised of mobile services and fixed-line services. The Company’s mobile business consists of global system for mobile communications (GSM) and third generation (3G) mobile business. The Company is a fixed-line broadband and communications operator in northern China. It offers a range of fixed-line services nationwide in China, including fixed-line broadband services, traditional fixed-line services, which include fixed-line voice services and value-added services, and data communications and other services. In January, 2009, the Company acquired fixed-line business in 21 provinces in southern China.
Shares of China Unicom Hong Kong (NYSE: CHU) traded up 0.00% during mid-day trading on Thursday, hitting $13.52. CHU has a 52 week low of $10.34 and a 52 week high of $15.68. The stock has a market cap of $31.856B and a 50-day moving average of $14.0111.
Article via American Banking News