What’s Ahead for China Telecom Corporation Limited (CHA) After Achieving 52-Week Low?

March 15, 2018 - By Peter Erickson

The stock of China Telecom Corporation Limited (NYSE:CHA) hit a new 52-week low and has $41.31 target or 3.00 % below today’s $42.59 share price. The 7 months bearish chart indicates high risk for the $34.34 billion company. The 1-year low was reported on Mar, 15 by Barchart.com. If the $41.31 price target is reached, the company will be worth $1.03B less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock.

The stock decreased 0.61% or $0.26 during the last trading session, reaching $42.59. About 37,311 shares traded. China Telecom Corporation Limited (NYSE:CHA) has risen 4.41% since March 15, 2017 and is uptrending. It has underperformed by 12.29% the S&P500.

China Telecom Corporation Limited (NYSE:CHA) Ratings Coverage

Among 6 analysts covering China Telecom (NYSE:CHA), 4 have Buy rating, 0 Sell and 2 Hold. Therefore 67% are positive. China Telecom had 11 analyst reports since August 21, 2015 according to SRatingsIntel. The company was upgraded on Friday, August 14 by Zacks. The rating was upgraded by Bernstein on Wednesday, November 9 to “Outperform”. Credit Suisse maintained China Telecom Corporation Limited (NYSE:CHA) on Tuesday, August 18 with “Outperform” rating. Nomura downgraded the stock to “Neutral” rating in Monday, March 12 report. On Wednesday, August 30 the stock rating was initiated by Bank of America with “Buy”. The firm earned “Neutral” rating on Thursday, August 20 by Citigroup. As per Wednesday, November 30, the company rating was upgraded by Nomura. The rating was downgraded by Bernstein on Friday, October 30 to “Mkt Perform”. The stock of China Telecom Corporation Limited (NYSE:CHA) has “Neutral” rating given on Wednesday, June 15 by Citigroup. The company was upgraded on Friday, November 11 by Morgan Stanley.

China Telecom Corporation Limited, together with its subsidiaries, provides wireline and mobile telecommunications services primarily in the People's Republic of China. The company has market cap of $34.34 billion. It offers wireline voice services, including local wireline telephone services and long distance wireline services; CDMA mobile voice services, such as local calls, domestic and international long distance calls, intra-provincial roaming, and inter-provincial roaming and international roaming; wireline Internet access services comprising dial-up and broadband services; wireless Internet access services; and wireline, Internet, and mobile value-added services. It has a 12.17 P/E ratio. The firm also provides Best Tone information services; and information technology integrated solutions, such as system integration, outsourcing, special advisory, information application, knowledge, and software development services.

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