KeywordsStock price premium HK dollar general direction
China's communications services climbed to the market this morning, with shares rising 2.28% per cent to HK $4.94 a half time, to 8.58 million shares. Goldman Sachs issued a report saying it maintained the stock's buying rating because it considered the shares to be reasonably priced, equivalent to 12 times times the 09 fiscal year, with a target price of HK $5.4, a premium of 9% per cent. Goldman Sachs has pointed out that it is premature to judge whether China can accept/adopt a third party telecom tower/lease model. But if this broad direction is confirmed, Goldman believes that China's communications services may be seen as an ideal entity to run the company, possibly forming a subsidiary, in which operators hold important stakes. Positive progress in this area is expected to be a stimulus to the unit's renewed rating, he said.
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