0648 GMT - China Telecom is likely to perform better than peers in its core businesses, say Nomura analysts in a research note. The telecom giant is likely to maintain its above-industry-average service revenue growth in fiscal 2024, due to solid execution of its bundling services, the analysts say. Capital expenditure to sales ratio in 2024-2026, may maintain its declining trend, primarily driven by the slower 5G network rollout, while AI and cloud infrastructure continues to be the major focus areas for investment, the analysts add. The analysts keep a buy rating, but lower target price slightly to HK$5.50 from HK$5.80. Shares are 1.05% lower at HK$4.70. (tracy.qu@wsj.com)
(END) Dow Jones Newswires
January 21, 2025 01:48 ET (06:48 GMT)
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