China Tower’s Stock Price Soars to 1.11 HKD, Marking a Robust Increase of +4.72%

China Tower (788)

1.11 HKD +0.05 (+4.72%) Volume: 674.5M

China Tower’s stock price sees a significant growth, currently trading at 1.11 HKD, a noteworthy increase of +4.72% this trading session. With a hefty trading volume of 674.5M, the stock has demonstrated a strong performance, recording a yearly uptrend of +35.37% YTD, making it a worthwhile consideration for investors eyeing the Chinese market.

Latest developments on China Tower

Today, China Tower’s stock price experienced fluctuations following recent developments. Goldman Sachs slightly raised price targets on three Chinese telecom companies but cut China Tower’s target price to $1.15. Additionally, there was a bearish block trade of 37.7 million China Tower shares at $1.06, resulting in a turnover of $39.962 million. However, there were also bullish block trades of 3.8 million and 4.6 million China Tower shares at the same price, with turnovers of $4.028 million and $4.876 million respectively. These trading activities likely contributed to the stock price movements of China Tower today.

China Tower on Smartkarma

Analyst coverage on China Tower on Smartkarma indicates that the company is set to replace CICC in the FXI at the close on 20 Sep. According to Brian Freitas, there appears to be more positioning and short interest in CICC compared to China Tower. Passives will need to buy 2x ADV in China Tower, and cumulative excess volume and short interest have been on the rise for CICC. The listing of Midea Group Co Ltd A H-shares could lead to another change for the ETF before the next scheduled rebalance in December.

In a preview of the FXI rebalance, Brian Freitas suggests that China Tower is a high probability inclusion while CICC is likely to be deleted from the ETF. Shorts have been covering China Tower and increasing in CICC, with a noticeable slowdown in the pace of cumulative excess volume growth for both stocks in recent months. With just one expected change for the iShares China Large-Cap ETF in September, investors should keep an eye on the evolving dynamics between China Tower and CICC in the market.

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 telecommunication company operating in China, has received a positive outlook based on the Smartkarma Smart Scores. With a high Value score of 5, the company is deemed to be financially sound and undervalued in the market. Additionally, a strong Dividend score of 4 indicates that China Tower is likely to provide consistent returns to its shareholders. While the Growth score of 3 suggests moderate potential for expansion, the Resilience score of 2 highlights some vulnerabilities that the company may face in the future. However, with a Momentum score of 3, China Tower shows signs of positive market sentiment and potential upward movement.

Overall, China Tower’s outlook is optimistic, with a solid foundation in financial value and dividend payouts. The company’s focus on telecommunication towers construction and maintenance, along with ancillary facilities management, positions it well for continued growth in the Chinese market. Despite some resilience challenges, the momentum of China Tower indicates potential for future success and stability in the telecommunication industry. Investors may find China Tower to be a promising opportunity for long-term investment based on its overall Smartkarma Smart Scores.

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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