China Unicom (Hong Kong) Ltd (NYSE:CHU) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Monday. The firm presently has a $17.00 target price on the Wireless communications provider’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 16.28% from the stock’s current price.

According to Zacks, “China Unicom Limited is engaged in the provision of cellular, paging, long distance, data and internet services in the People’s Repulic of China. “

Several other brokerages also recently weighed in on CHU. BidaskClub raised shares of China Unicom (Hong Kong) from a “hold” rating to a “buy” rating in a research note on Wednesday, August 23rd. Nomura cut shares of China Unicom (Hong Kong) from a “neutral” rating to a “reduce” rating in a research note on Thursday. CLSA cut shares of China Unicom (Hong Kong) from an “outperform” rating to an “underperform” rating in a research note on Wednesday, August 16th. J P Morgan Chase & Co cut shares of China Unicom (Hong Kong) from a “neutral” rating to an “underweight” rating in a research note on Monday, August 21st. Finally, Morgan Stanley cut shares of China Unicom (Hong Kong) from an “overweight” rating to an “underweight” rating in a research note on Wednesday, July 5th. Four investment analysts have rated the stock with a sell rating and eight have issued a buy rating to the company’s stock. China Unicom (Hong Kong) currently has an average rating of “Hold” and a consensus target price of $14.75.

Shares of China Unicom (CHU) traded down 1.55% during midday trading on Monday, reaching $14.62. 688,699 shares of the company’s stock were exchanged. China Unicom has a 12-month low of $10.84 and a 12-month high of $16.55. The stock has a market capitalization of $35.01 billion, a P/E ratio of 146.20 and a beta of 0.74. The firm has a 50-day moving average of $14.81 and a 200-day moving average of $13.78.

TRADEMARK VIOLATION NOTICE: This story was originally published by Watch List News and is owned by of Watch List News. If you are viewing this story on another website, it was illegally copied and republished in violation of United States & international trademark & copyright law. The original version of this story can be viewed at https://www.watchlistnews.com/china-unicom-hong-kong-ltd-chu-upgraded-at-zacks-investment-research/1528468.html.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. US Bancorp DE raised its position in China Unicom (Hong Kong) by 1.8% in the second quarter. US Bancorp DE now owns 7,247 shares of the Wireless communications provider’s stock valued at $108,000 after buying an additional 128 shares in the last quarter. FNY Partners Fund LP bought a new position in China Unicom (Hong Kong) during the first quarter valued at approximately $117,000. Citigroup Inc. raised its position in China Unicom (Hong Kong) by 739.6% in the second quarter. Citigroup Inc. now owns 9,362 shares of the Wireless communications provider’s stock valued at $141,000 after buying an additional 8,247 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its position in China Unicom (Hong Kong) by 12.5% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 11,250 shares of the Wireless communications provider’s stock valued at $167,000 after buying an additional 1,250 shares in the last quarter. Finally, Ronald Blue & Co. LLC raised its position in China Unicom (Hong Kong) by 9.5% in the second quarter. Ronald Blue & Co. LLC now owns 11,392 shares of the Wireless communications provider’s stock valued at $170,000 after buying an additional 986 shares in the last quarter. Institutional investors own 1.18% of the company’s stock.

About China Unicom (Hong Kong)

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.

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

Receive News & Ratings for China Unicom (Hong Kong) Ltd Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for China Unicom (Hong Kong) Ltd and related companies with Analyst Ratings Network's FREE daily email newsletter.