Zacks Investment Research upgraded shares of China Telecom Corp Ltd (NYSE:CHA) from a hold rating to a buy rating in a research note issued to investors on Monday morning. Zacks Investment Research currently has $55.00 target price on the utilities provider’s stock.

According to Zacks, “China Telecom Corporation is a state-owned telecommunications company in China. They operate local telephone networks in ten provinces in China. They operate domestic and international fixed-line networks and infrastructure including wireless local loop, as well as telecom network-based voice, data, video, multimedia and information services. They are also engaged in international telecom service settlement and expand into overseas markets. “

Separately, BidaskClub cut China Telecom Corp from a sell rating to a strong sell rating in a report on Thursday, June 22nd. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. China Telecom Corp has a consensus rating of Buy and an average target price of $55.00.

Shares of China Telecom Corp (CHA) opened at 49.65 on Monday. China Telecom Corp has a 12-month low of $45.58 and a 12-month high of $53.61. The stock has a 50 day moving average of $47.87 and a 200 day moving average of $48.37. The company has a market cap of $40.18 billion, a price-to-earnings ratio of 14.19 and a beta of 0.65.

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A number of hedge funds have recently bought and sold shares of CHA. Northwestern Mutual Wealth Management Co. boosted its stake in China Telecom Corp by 93.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,211 shares of the utilities provider’s stock valued at $106,000 after buying an additional 1,068 shares during the period. Migdal Insurance & Financial Holdings Ltd. boosted its stake in China Telecom Corp by 22.8% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,390 shares of the utilities provider’s stock valued at $163,000 after buying an additional 630 shares during the period. Diversified Trust Co acquired a new stake in China Telecom Corp during the second quarter valued at approximately $208,000. Greenleaf Trust acquired a new stake in China Telecom Corp during the second quarter valued at approximately $240,000. Finally, Goldman Sachs Group Inc. acquired a new stake in China Telecom Corp during the first quarter valued at approximately $244,000. Institutional investors own 0.41% of the company’s stock.

China Telecom Corp Company Profile

China Telecom Corporation Limited is an investment holding company principally engaged in telecommunications and related businesses. The Company provides integrated information services, including wireline and mobile telecommunications services, Internet access services, information services and other value-added telecommunications services.

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