UBS Group Downgrades China Telecom (CHA) to Neutral

China Telecom (NYSE:CHA) was downgraded by stock analysts at UBS Group from a “buy” rating to a “neutral” rating in a research report issued on Thursday, 99wallstreet.com reports.

Separately, Zacks Investment Research upgraded shares of China Telecom from a “strong sell” rating to a “hold” rating in a report on Friday, July 6th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. China Telecom has an average rating of “Hold” and an average price target of $50.00.

Shares of CHA opened at $48.96 on Thursday. China Telecom has a 1-year low of $41.28 and a 1-year high of $51.80. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.29 and a quick ratio of 0.27.

Large investors have recently bought and sold shares of the company. Greenleaf Trust bought a new stake in shares of China Telecom in the 2nd quarter valued at about $280,000. Citadel Advisors LLC bought a new stake in shares of China Telecom in the 1st quarter valued at about $332,000. OLD Mission Capital LLC bought a new stake in shares of China Telecom in the 2nd quarter valued at about $586,000. Cornerstone Wealth Management LLC bought a new stake in shares of China Telecom in the 3rd quarter valued at about $298,000. Finally, Northern Trust Corp raised its holdings in shares of China Telecom by 18.2% in the 2nd quarter. Northern Trust Corp now owns 21,486 shares of the utilities provider’s stock valued at $998,000 after purchasing an additional 3,309 shares in the last quarter. Institutional investors and hedge funds own 0.56% of the company’s stock.

China Telecom Company Profile

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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