Goldman Sachs: Maintains "neutral" rating on China Tower (00788), target price lowered to HKD 1.

Goldman Sachs has released a research report stating that it maintains a "neutral" rating for CHINA TOWER (00788). Although the company is expected to achieve higher growth rates as the impact of pricing diminishes, the target price has been lowered from HKD 1.1 to HKD 1 due to a slowdown in telecommunications capital expenditure for 5G and mobile infrastructure. The bank predicts that the company's revenue and profit growth rate will improve from this year's low base in 2024. Pricing will remain stable from 2024 to 2027 until new pricing agreements are negotiated by the end of 2027.