China Tower’s Stock Price Soars to 1.15 HKD, Marking an Impressive Increase of 0.88%

China Tower (788)

1.15 HKD +0.01 (+0.88%) Volume: 252.81M

China Tower’s stock price is currently performing at 1.15 HKD, marking a positive change of +0.88% in this trading session, with a robust trading volume of 252.81M. Its year-to-date (YTD) performance also shows a promising growth of +2.68%, making it a potential player in the stock market to look out for.

Latest developments on China Tower

China Tower Corporation Limited’s stock price saw a boost today after UBS upgraded the company to a Buy rating and raised the target price to $1.5. This comes amidst bullish block trades of 2 million shares at $1.15, resulting in a turnover of $2.3 million. Additionally, China is making strides in clean energy with the construction of a massive laser facility, as seen in satellite images. With future business opportunities in the telecom towers market, including competition from Bharti Infratel Limited, investors should take note of China Tower’s recent developments.

China Tower on Smartkarma

Analyst coverage on China Tower by Brian Freitas on Smartkarma suggests that the company will replace China International Capital Corporation in the iShares China Large-Cap ETF at the close on 20 September. The analysis indicates that there is more positioning and short interest in CICC compared to China Tower, with passives needing to buy 2x ADV in China Tower. The listing of Midea Group Co Ltd A H-shares could lead to further changes for the ETF before the next scheduled rebalance in December.

In another report by Brian Freitas on Smartkarma, it is anticipated that China Tower could replace CICC in the FXI in September. Short interest in China Tower has been decreasing while increasing in CICC, with a flattening out of the cumulative excess volume curve for both stocks. The review cutoff has been completed, with expectations of just one change for the iShares China Large-Cap ETF. China Tower is seen as a high probability inclusion, while CICC is likely to be removed from the index.

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 high scores in Value and Dividend, indicating strong financial health and potential for returns to investors. Despite scoring lower in Growth and Resilience, the company shows promising Momentum, suggesting positive market sentiment and potential for growth in the future.

With a solid foundation in telecommunication towers construction and maintenance services, China Tower is well-positioned to capitalize on the growing demand for telecommunications infrastructure in China. Its high scores in Value and Dividend reflect a stable and profitable business model, making it an attractive investment option for those seeking long-term growth potential in the telecommunications sector.

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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