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<Research>Nomura Cuts CHINA MOBILE (00941.HK) TP to $88 as 2024 Weakness Expected
Recommend 6 Positive 16 Negative 9 |
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CHINA MOBILE (00941.HK) will continue to be one of the most defensive stocks in the H-share market because of its strong balance sheet and cash flow, as well as sustainable dividend growth driven by declining capital expenditure, Nomura released a research report saying. Therefore, the broker reiterated rating at Buy on the Group, and slightly cut its target price to $88 from $89. CHINA MOBILE's fundamentals may continue to be weak as its core business faces saturation and intensifying competition, while its government and enterprise business is suffering from weak IT spending, Nomura added. Its weakness in 2024 was expected. AAStocks Financial News |
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