Bank of America Corporation initiated coverage on shares of China Unicom (Hong Kong) Ltd (NYSE:CHU) in a report published on Wednesday morning, The Fly reports. The firm issued a neutral rating on the Wireless communications provider’s stock.

A number of other research firms also recently issued reports on CHU. BidaskClub raised China Unicom (Hong Kong) from a hold rating to a buy rating in a research note on Wednesday, August 23rd. Nomura downgraded China Unicom (Hong Kong) from a neutral rating to a reduce rating in a research report on Thursday, August 24th. CLSA downgraded China Unicom (Hong Kong) from an outperform rating to an underperform rating in a research report on Wednesday, August 16th. J P Morgan Chase & Co downgraded China Unicom (Hong Kong) from a neutral rating to an underweight rating in a research report on Monday, August 21st. Finally, Zacks Investment Research raised China Unicom (Hong Kong) from a hold rating to a buy rating and set a $17.00 target price on the stock in a research report on Friday, August 18th. Four analysts have rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $14.75.

China Unicom (CHU) opened at 14.52 on Wednesday. The firm’s 50-day moving average is $14.90 and its 200-day moving average is $13.86. The company has a market capitalization of $34.77 billion, a PE ratio of 145.20 and a beta of 0.72. China Unicom has a 12 month low of $10.84 and a 12 month high of $16.55.

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Large investors have recently modified their holdings of the company. JPMorgan Chase & Co. boosted its stake in shares of China Unicom (Hong Kong) by 28,837.9% in the first quarter. JPMorgan Chase & Co. now owns 80,158 shares of the Wireless communications provider’s stock worth $1,080,000 after buying an additional 79,881 shares during the period. Trexquant Investment LP bought a new stake in shares of China Unicom (Hong Kong) during the first quarter worth $211,000. Parametric Portfolio Associates LLC boosted its stake in shares of China Unicom (Hong Kong) by 48.0% in the first quarter. Parametric Portfolio Associates LLC now owns 191,169 shares of the Wireless communications provider’s stock worth $2,575,000 after buying an additional 62,000 shares during the period. Karp Capital Management Corp bought a new stake in shares of China Unicom (Hong Kong) during the first quarter worth $7,475,000. Finally, Locust Wood Capital Advisers LLC bought a new stake in shares of China Unicom (Hong Kong) during the first quarter worth $466,000. Hedge funds and other institutional investors own 1.18% of the company’s stock.

China Unicom (Hong Kong) Company Profile

China Unicom (Hong Kong) Limited is a Hong Kong-based investment holding company principally engaged in the provision of telecommunications services. The Company’s businesses include mobile businesses, fixed-line businesses and others. Its mobile businesses include the provision of call services, roaming services, mobile broadband services, traditional value-added services such as short message services, multimedia message services and wireless Internet access card, as well as new value-added services such as mobile music, mobile television and Wo portal services.

The Fly

Analyst Recommendations for China Unicom (Hong Kong) (NYSE:CHU)

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