China Unicom (Hong Kong) (CHU) Lifted to “Buy” at CLSA

China Unicom (Hong Kong) (NYSE:CHU) was upgraded by stock analysts at CLSA from an “underperform” rating to a “buy” rating in a research note issued to investors on Thursday, The Fly reports.

Other analysts have also issued reports about the company. Zacks Investment Research lowered China Unicom (Hong Kong) from a “buy” rating to a “hold” rating in a research note on Wednesday, September 20th. Nomura upgraded China Unicom (Hong Kong) from a “reduce” rating to a “neutral” rating in a research note on Thursday, October 26th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $16.00.

Shares of China Unicom (NYSE:CHU) traded down $0.10 during trading hours on Thursday, hitting $14.06. The stock had a trading volume of 200,000 shares, compared to its average volume of 221,386. China Unicom has a 52 week low of $11.28 and a 52 week high of $16.55. The firm has a market capitalization of $42,890.00, a price-to-earnings ratio of 70.30 and a beta of 0.72. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.29 and a current ratio of 0.29.

A number of institutional investors have recently bought and sold shares of CHU. Oppenheimer Asset Management Inc. bought a new position in China Unicom (Hong Kong) in the second quarter valued at about $214,000. Ameriprise Financial Inc. bought a new position in China Unicom (Hong Kong) in the second quarter valued at about $181,000. Profund Advisors LLC boosted its holdings in China Unicom (Hong Kong) by 14.9% in the second quarter. Profund Advisors LLC now owns 59,514 shares of the Wireless communications provider’s stock valued at $890,000 after acquiring an additional 7,720 shares during the last quarter. Citigroup Inc. boosted its holdings in China Unicom (Hong Kong) by 739.6% in the second quarter. Citigroup Inc. now owns 9,362 shares of the Wireless communications provider’s stock valued at $141,000 after acquiring an additional 8,247 shares during the last quarter. Finally, D.A. Davidson & CO. bought a new position in China Unicom (Hong Kong) in the second quarter valued at about $295,000. Institutional investors and hedge funds own 0.91% of the company’s stock.

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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

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