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

10:34 20/11/2023

Goldman Sachs expects that the revenue and profit growth rate of China Tower (00788) will improve from a low base this year to 2024.

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.

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The trading volume of the market platform Polymarket has dropped for the first time in eight months, with technical malfunctions and increased competition pressure leading to a slowdown in growth.

US Stock Market Move | Bilibili, Inc. Sponsored ADR Class Z (BILI.US) rises more than 5%; daily video and podcast content viewing time breaks one billion minutes for the first time.

US Stock Market Move | Ford Motor Company (F.US) rose more than 8% as it enters the large-scale energy storage market with Contemporary Amperex Technology technology.