Bernstein Upgrades China Unicom (Hong Kong) Limited (ADR) to Outperform

Brokerage firm Bernstein Upgrades its rating on China Unicom (Hong Kong) Limited (ADR)(NYSE:CHU). The shares have been rated Outperform. Previously, the analysts had a Market Perform rating on the shares. The rating by Bernstein was issued on Aug 18, 2016.

In a different note, On Jul 18, 2016, Jefferies said it Downgrades its rating on China Unicom (Hong Kong) Limited (ADR). The shares have been rated ‘Hold’ by the firm.

China Unicom (Hong Kong) Limited (ADR) (CHU) shares turned negative on Mondays trading session with the shares closing down -0.1 points or -0.86% at a volume of 3,19,561. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $11.54. The peak price level was also seen at $11.54 while the days lowest was $11.42. Finally the shares closed at $11.49. The 52-week high of the shares is $15 while the 52-week low is $9.89. According to the latest information available, the market cap of the company is $27,515 M.

China Unicom (Hong Kong) Limited is an investment holding company which provides telecommunications services. The Company’s subsidiaries principal activities are the provision of cellular and fixed-line voice and services broadband and other Internet-related services information communications technology services and business and data communications services in the PRC. It provides a range of telecommunications services in China including mobile broadband fixedline broadband global system for mobile communications (GSM) fixed-line local access information and communications technology (ICT) data communications and other related services. The Company’s subsidiaries include China United Network Communications Corporation Limited China Unicom (Japan) Operations Corporation and China Unicom (Singapore) Operations Pte Limited among others.

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