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<Research>BOCI Cuts CHINACOMSERVICE's TP to $4.87; 2HFY24 Earnings Miss
Recommend 9 Positive 10 Negative 5 |
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According to BOCI's research report, CHINACOMSERVICE (00552.HK)'s 2HFY24 earnings dropped by 4.4% YoY, falling short of the broker's expectations. While the company's revenue growth was spurred by non-telecom customers and the international market, telecom-related income continued to be pressured by reduced capital expenditure. Anticipating that increased demand will offset the decline in capital expenditure in the traditional telecom business, BOCI reiterated a Buy rating on CHINACOMSERVICE but lowered its target price to $4.87. AAStocks Financial News |
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