Sanford C. Bernstein Reiterates Buy Rating for China Unicom (Hong Kong) Ltd (CHU)

China Unicom (Hong Kong) Ltd (NYSE:CHU)‘s stock had its “buy” rating reissued by research analysts at Sanford C. Bernstein in a report released on Tuesday, July 11th.

Other equities research analysts have also issued reports about the company. Zacks Investment Research raised China Unicom (Hong Kong) from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research report on Monday, May 22nd. Jefferies Group LLC raised China Unicom (Hong Kong) from an “underperform” rating to a “buy” rating in a research report on Thursday, April 27th. BidaskClub raised China Unicom (Hong Kong) from a “hold” rating to a “buy” rating in a research report on Tuesday, June 27th. Deutsche Bank AG raised China Unicom (Hong Kong) from a “hold” rating to a “buy” rating in a research report on Wednesday, March 15th. Finally, Macquarie started coverage on China Unicom (Hong Kong) in a research report on Thursday, March 23rd. They set an “outperform” rating on the stock. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $14.25.

Shares of China Unicom (CHU) traded up 2.25% during trading on Tuesday, hitting $14.98. 464,368 shares of the stock were exchanged. The stock has a market cap of $35.87 billion, a PE ratio of 249.67 and a beta of 0.74. China Unicom has a one year low of $10.66 and a one year high of $15.15. The stock’s 50 day moving average price is $14.60 and its 200 day moving average price is $13.50.

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Hedge funds and other institutional investors have recently modified their holdings of the company. US Bancorp DE increased its position in shares of China Unicom (Hong Kong) by 1.8% in the second quarter. US Bancorp DE now owns 7,247 shares of the Wireless communications provider’s stock worth $108,000 after buying an additional 128 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of China Unicom (Hong Kong) during the fourth quarter worth approximately $116,000. FNY Partners Fund LP bought a new position in shares of China Unicom (Hong Kong) during the first quarter worth approximately $117,000. Citigroup Inc. increased its position in shares of China Unicom (Hong Kong) by 739.6% in the second quarter. Citigroup Inc. now owns 9,362 shares of the Wireless communications provider’s stock worth $141,000 after buying an additional 8,247 shares during the last quarter. Finally, Ronald Blue & Co. LLC increased its position in shares of China Unicom (Hong Kong) by 9.5% in the second quarter. Ronald Blue & Co. LLC now owns 11,392 shares of the Wireless communications provider’s stock worth $170,000 after buying an additional 986 shares during the last quarter. Hedge funds and other institutional investors own 1.21% of the company’s stock.

About China Unicom (Hong Kong)

China Unicom (Hong Kong) Limited is a Hong Kong-based investment holding company principally engaged in the provision of telecommunications services. The Company’s businesses include mobile businesses, fixed-line businesses and others. Its mobile businesses include the provision of call services, roaming services, mobile broadband services, traditional value-added services such as short message services, multimedia message services and wireless Internet access card, as well as new value-added services such as mobile music, mobile television and Wo portal services.

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