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PCCW (00008) grants a total of 3.8097 million bonus shares
Telecom PCC (00008) issued an announcement. On April 19, 2024, the company based on the company's adoption of PCC...
PCCW: 2023 ANNUAL REPORT
Bank Ratings | J.P. Morgan Chase: HKT's fundamentals diverge, HKT is preferred
Glonghui, March 18 | J.P. Morgan Chase released a report stating that due to the fundamental differences in Hong Kong Telecom stocks and the outlook for US interest rates is still uncertain, the bank advises investors to select stocks selectively. According to the bank, PCCW downgraded its rating from “increase” to “neutral” after outperforming its peers by about 30% since last year. Due to concerns about dividend prospects and potential profit pressure, the target price was lowered from HK$4.4 to HK$4, which is equivalent to 6.3 times the predicted embedded value of EBITDA. At the same time, Hong Kong's broadband rating was cut from “increase in holdings” to “reduced holdings” due to the company's execution, corporate governance, and assets and liabilities
Big Bank Rating | Damo: Lowering the target prices of Dengying, Hoden and Hong Kong broadband, it is expected that HKT will continue to outperform this year
Glonghui, March 7 | Morgan Stanley published a research report stating that in the volatile competitive environment of the industry, the growth resilience of telecom companies is even more valuable. It is expected that in the face of continued competitive pressure in the market, there may be differences in the performance of telecom companies, which will affect the growth and investment prospects of local telecommunications stocks this year. It is recommended to focus on leading companies. Among them, the “leader” Hong Kong Telecom is more optimistic, and maintains a “gain” rating. The target price is HK$10.5. Damo pointed out that in the high-end market, HKT relies on user loyalty, network quality and brand awareness to consolidate its stable market position and achieve steady growth. It is expected that the company will continue to outperform this year
Big Bank Rating | Damo: Giving PCCom the “Synchronize with the Market” rating and target price of HK$4
Glonghui, Feb. 27 | Morgan Stanley published a research report stating that PCCW announced its results last Friday (23rd) and also announced a reduction in dividends distributed from HKT. Damo believes that yesterday's decline of about 5% only reflects a reduction in the dividend transmission rate of FY2023 to 97% and a slight downward review of its valuation. It is believed that this decline did not fully reflect the potential risk of further dividend cuts. It is expected that the pressure on free cash flow of electricity earnings will continue in the short to medium term. Therefore, it is estimated that there is still a risk of further downside in the short term, in sync with the “big market” rating. The target price is HK$4.
Bank Ratings | Damo: PCC's stock price is expected to drop to HK$4 within 15 days
Glonghui, Feb. 26 | Morgan Stanley released a technical report. It is expected that Dianying's stock price will fall within 15 days. The probability of this happening is expected to exceed 80%. The rating is “in sync with the market”, and the target price is HK$4. Electric's total dividend for the full year increased by 1% year-on-year to 38.25 cents last year. According to the report, the dividend pass through rate (dividend pass through rate) of the Hong Kong Telecom subsidiary of 52% of the shares held by Electric Power last year fell to 97% from 100% in the previous two years, which was unexpected for the market and had a negative impact. Under pressure from free cash flow, the risk of a decline in dividend conductivity is expected
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