China Telecom (CHA) Upgraded at Goldman Sachs Group

China Telecom (NYSE:CHA) was upgraded by equities research analysts at Goldman Sachs Group from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Sunday, The Fly reports.

Other research analysts have also recently issued research reports about the company. Zacks Investment Research raised China Telecom from a “sell” rating to a “hold” rating in a research report on Wednesday, February 20th. New Street Research cut China Telecom from a “neutral” rating to a “reduce” rating in a research report on Monday, February 11th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. China Telecom has an average rating of “Hold” and a consensus price target of $62.00.

Shares of NYSE CHA traded up $0.21 during trading on Friday, reaching $53.90. 53,390 shares of the stock traded hands, compared to its average volume of 28,668. China Telecom has a 52-week low of $44.20 and a 52-week high of $57.09. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.28 and a quick ratio of 0.26. The stock has a market capitalization of $43.62 billion, a PE ratio of 14.15, a P/E/G ratio of 1.58 and a beta of 0.82.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC lifted its position in shares of China Telecom by 63.0% during the 3rd quarter. Renaissance Technologies LLC now owns 210,700 shares of the utilities provider’s stock valued at $10,413,000 after buying an additional 81,400 shares during the last quarter. Sustainable Insight Capital Management LLC purchased a new stake in China Telecom during the 4th quarter worth about $104,000. LMR Partners LLP purchased a new stake in China Telecom during the 4th quarter worth about $5,304,000. Northern Trust Corp lifted its holdings in China Telecom by 127.9% during the 4th quarter. Northern Trust Corp now owns 51,739 shares of the utilities provider’s stock worth $2,625,000 after purchasing an additional 29,041 shares in the last quarter. Finally, LSV Asset Management lifted its holdings in China Telecom by 2.4% during the 4th quarter. LSV Asset Management now owns 46,690 shares of the utilities provider’s stock worth $2,368,000 after purchasing an additional 1,100 shares in the last quarter. 0.55% of the stock is currently owned by hedge funds and other institutional investors.

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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Analyst Recommendations for China Telecom (NYSE:CHA)

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