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Nomura Downgrades China Communications Services to Neutral From Buy; Price Target Is HK$4.40
CICC: Maintains the rating of CHINACOMSERVICE as "outperforming the Industry" with a Target Price of HKD 5.10.
CICC released a Research Report stating that, considering CHINACOMSERVICE (00552) has strengthened project quality control, and the capital expenditure of downstream customer operators has decreased more than expected, the bank has lowered its Net income forecast for 2025 by 6.1% to 3.683 billion yuan, and introduced the Net income forecast for 2026 at 3.762 billion yuan for the first time. The company's current stock price corresponds to a PE of 7.7x for 2025 and 7.4x for 2026. The bank stated that considering the company grasping AI development opportunities and the rapid growth of new contracts in new business, it maintains an outperform rating and a Target Price of 5.10 Hong Kong dollars, corresponding to a 9.0x PE for 2025.
Nomura: Downgraded CHINACOMSERVICE (00552) rating to "Neutral" and maintained a Target Price of HKD 4.4.
The bank believes that the company's strategy focused on high-quality growth may gradually achieve results, leading to stable expansion of profit margins, but it could also result in short-term pain from slowed growth.
Jefferies Downgrades China Communications Services to Hold From Buy, Adjusts Price Target to HK$4.69 From HK$6.51
BOC International: Reiterates CHINACOMSERVICE (00552) "Buy" rating with Target Price lowered to HKD 4.87.
BOC International expects that the increase in demand will offset the decline in capital expenditures for CHINACOMSERVICE's traditional telecommunication Business.
CHINACOMSERVICE announced its full-year performance for 2024.
Key points: Actively respond to the complex situation, with stable improvement in operational performance. Deepen quality enhancement measures and steadily promote high-quality development. Achievements in Technology innovation have driven growth for three consecutive years. Significant results in the layout of Global Strategy lead the company's future growth. Accelerate the layout of AI strategy and build new advantages in the Industry. Financial summary (audited) as of the year ending December 31: 2023, 2024, Change, Operating income (in million RMB) 148,615 150,000 +0.9%. Among them:
