China Tower’s Stock Price Climbs to 1.09 HKD, Witnessing a Positive Surge of 0.93%

China Tower (788)

1.09 HKD +0.01 (+0.93%) Volume: 199.34M

China Tower’s stock price stands strong at 1.09 HKD, recording a positive trading session with a rise of +0.93%, backed by a robust trading volume of 199.34M. Reflecting a strong market performance, the stock showcases an impressive YTD increase of +32.93%.

Latest developments on China Tower

China Tower Corp. has recently reported revenue growth in 2024, with third-quarter revenue and profit in line with expectations. Investment firms like CICC and Nomura have shown confidence in the company by upgrading their ratings and raising their price targets. M Stanley also noted that China Tower’s third-quarter profit margin exceeded expectations. Additionally, a bullish block trade of 1.8 million shares of China Tower at $1.1 each resulted in a turnover of $1.98 million. These positive developments have likely contributed to the stock price movements of China Tower today.

China Tower on Smartkarma

Analyst coverage on China Tower on Smartkarma indicates potential changes in the iShares China Large-Cap (FXI) ETF. According to Brian Freitas, China Tower (788 HK) is likely to replace China International Capital Corporation (3908 HK) in the ETF at the close on 20 September. Passives will need to buy 2x ADV in China Tower, as there appears to be more positioning and short interest in CICC compared to China Tower. The listing of Midea Group Co Ltd A (000333 CH) H-shares could also lead to further changes for the ETF before the next scheduled rebalance in December.

In another report by Brian Freitas, it is suggested that China Tower could potentially replace CICC in the FXI ETF in September. Shorts have been covering China Tower and increasing in CICC, with the cumulative excess volume curve flattening out recently. The review cutoff has been completed, with expectations of only one change for the ETF. China Tower is seen as a high probability inclusion while CICC is likely to be deleted. Both stocks have seen an increase in cumulative excess volume, although the pace has slowed in recent months.

A look at China Tower Smart Scores

Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma

China Tower Corporation Limited, a telecommunications company in China, has received high scores in Value and Dividend, indicating strong financial health and profitability. However, its Growth score is moderate, suggesting potential for expansion but not at a rapid pace. The company’s Resilience and Momentum scores are lower, reflecting some challenges in adapting to market changes and maintaining consistent performance. Overall, China Tower’s long-term outlook appears stable with room for growth, particularly in terms of value and dividends.

China Tower Corporation Limited operates as a key player in the telecommunications industry in China, offering a range of services including tower construction and maintenance. With a solid foundation in value and dividends, the company is well-positioned for sustained success. While facing some resilience and momentum challenges, China Tower’s overall outlook remains positive, supported by its essential role in providing telecommunication infrastructure across the country.

Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
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