China Unicom (Hong Kong) Limited (CHU) Upgraded at Zacks Investment Research

China Unicom (Hong Kong) Limited (NYSE:CHU) was upgraded by Zacks Investment Research from a “strong sell” rating to a “buy” rating in a note issued to investors on Monday. The brokerage presently has a $15.00 price target on the stock. Zacks Investment Research’s price target would suggest a potential upside of 13.55% from the company’s previous close.

According to Zacks, “China Unicom Limited is engaged in the provision of cellular, paging, long distance, data and internet services in the People’s Repulic of China. “

A number of other analysts have also commented on the stock. Deutsche Bank AG raised shares of China Unicom (Hong Kong) Limited from a “hold” rating to a “buy” rating in a report on Wednesday, March 15th. Nomura lowered shares of China Unicom (Hong Kong) Limited from a “buy” rating to a “neutral” rating in a report on Wednesday, November 30th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. China Unicom (Hong Kong) Limited has a consensus rating of “Hold” and an average target price of $13.75.

Analyst Recommendations for China Unicom (Hong Kong) Limited (NYSE:CHU)

China Unicom (NYSE:CHU) traded up 0.76% during midday trading on Monday, reaching $13.21. The company’s stock had a trading volume of 239,767 shares. The stock’s 50-day moving average price is $12.20 and its 200-day moving average price is $11.88. China Unicom has a 12 month low of $9.89 and a 12 month high of $13.26. The firm has a market capitalization of $31.63 billion, a price-to-earnings ratio of 55.04 and a beta of 0.85.

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A number of large investors have recently modified their holdings of CHU. Ronald Blue & Co. LLC acquired a new stake in shares of China Unicom (Hong Kong) Limited during the third quarter valued at approximately $133,000. M&T Bank Corp acquired a new stake in shares of China Unicom (Hong Kong) Limited during the third quarter valued at approximately $136,000. Ellington Management Group LLC boosted its stake in shares of China Unicom (Hong Kong) Limited by 52.3% in the fourth quarter. Ellington Management Group LLC now owns 26,500 shares of the company’s stock valued at $306,000 after buying an additional 9,100 shares during the period. Capstone Asset Management Co. boosted its stake in shares of China Unicom (Hong Kong) Limited by 0.9% in the third quarter. Capstone Asset Management Co. now owns 39,709 shares of the company’s stock valued at $484,000 after buying an additional 370 shares during the period. Finally, Harvard Management Co. Inc. acquired a new stake in shares of China Unicom (Hong Kong) Limited during the third quarter valued at approximately $609,000. 0.94% of the stock is currently owned by hedge funds and other institutional investors.

China Unicom (Hong Kong) Limited 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, enterprise businesses and international businesses. 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.

5 Day Chart for NYSE:CHU

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