Citigroup Downgrades China Telecom Corporation Limited (ADR) to Neutral

Brokerage firm Citigroup Downgrades its rating on China Telecom Corporation Limited (ADR)(NYSE:CHA). The shares have been rated Neutral. Previously, the analysts had a Buy rating on the shares. The rating by Citigroup was issued on Jun 15, 2016.

In a different note, On Apr 17, 2016, Morgan Stanley said it Upgrades its rating on China Telecom Corporation Limited (ADR). The shares have been rated ‘Equal-weight’ by the firm.

China Telecom Corporation Limited (ADR) (CHA) made into the market gainers list on Tuesdays trading session with the shares advancing 2.54% or 1.1 points. Due to strong positive momentum, the stock ended at $44.49, which is also near the day’s high of $44.52. The stock began the session at $44.46 and the volume stood at 31,166 shares. The 52-week high of the shares is $62.83 and the 52 week low is $42.23. The company has a current market capitalization of $36,007 M and it has 80,93,23,680 shares in outstanding.

China Telecom Corporation Limited is a full services integrated information service operator and wireline telecommunication CDMA mobile network and broadband Internet services provider in the People’s Republic of China (PRC). The Company’s principal business is the provision of basic communications services including wireline telecommunications services mobile telecommunications services value added services such as Internet access services integrated information services and other related services. The Company also provides international telecommunications services including lease of network equipment International Internet access and transit and Internet data center service in certain countries of the Asia Pacific Europe Africa South America and North America regions. The Company’s other services primarily include sales repairs and maintenance of customer-end equipment.

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