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<Research>Deutsche Bank Hikes CHINA TOWER-NEW (00788.HK) TP to $16, Maintains Buy Rating
Recommend 43 Positive 76 Negative 23 |
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Deutsche Bank's research report wrote that CHINA TOWER-NEW (00788.HK) manifested a 10% YoY rise in net profit to RMB10.7 billion in 2024, with revenue growing by 4%. The broker anticipated that reduced interest expense and depreciation intensity will continue to drive profit and dividend this year and beyond. Management also highlighted AI edge computing as a strategic focus. Deutsche Bank forecast that China Tower could deliver a dividend yield of nearly 7% in 2026, with an estimated CAGR for EPS of 27% from 2024 to 2027. Consequently, the broker hiked its target price on the Chinese telecom from HKD14 to HKD16, maintaining a Buy rating. AAStocks Financial News |
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