China Tower’s Stock Price Soars to 1.03 HKD, Witnessing a Positive Leap of 0.98%

China Tower (788)

1.03 HKD +0.01 (+0.98%) Volume: 286.09M

China Tower’s stock price is currently at 1.03 HKD, witnessing a positive trading session with an increase of +0.98%, backed by a substantial trading volume of 286.09M. The stock has shown promising growth with a Year-to-Date (YTD) percentage change of +25.61%, indicating a strong market performance.

Latest developments on China Tower

China Tower (00788.HK) stock price saw a slight increase today as Goldman Sachs mildly raised its target price to $1.16, citing a stable outlook. This comes after architect Ole Scheeren unveiled plans for another twin tower project in China, adding to the company’s growth potential. Additionally, a bullish block trade of 3 million shares of China Tower at $1.04 resulted in a turnover of $3.12 million, indicating investor confidence in the company’s future performance. However, concerns arose as police objected to the construction of a Chinese ‘super embassy’ in east London due to fears of potential protests.

China Tower on Smartkarma

Analyst coverage on China Tower on Smartkarma suggests potential changes in the FXI ETF in September. According to Brian Freitas, China Tower (788 HK) is likely to replace China International Capital Corporation (3908 HK) in the ETF at the close on 20 September. Passives may need to buy 2x ADV in China Tower due to increased positioning and short interest in CICC compared to China Tower.

In another report by Brian Freitas, it is mentioned that China Tower could be a high probability inclusion in the FXI ETF, while CICC may face deletion. Shorts have been covering China Tower and increasing in CICC, with a noticeable slowdown in the pace of cumulative excess volume for both stocks. The analyst anticipates just one change for the ETF in September, with potential additional changes depending on the performance of Wuxi Apptec in the coming weeks.

A look at China Tower Smart Scores

Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma

China Tower Corporation Limited, a telecommunication company operating in China, has received high scores in Value and Dividend, indicating a positive long-term outlook for investors. With a strong focus on providing telecommunication towers construction, maintenance, and other services, the company is well-positioned to generate steady returns for shareholders.

While China Tower scored lower in Growth, Resilience, and Momentum, the company’s solid foundation in the telecommunication industry and commitment to providing essential services throughout China contribute to its overall stability. Investors can expect consistent performance from China Tower, making it a reliable choice for those looking for value and dividend opportunities in the market.

Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
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