China Unicom (Hong Kong) Ltd (CHU) Rating Increased to Buy at BidaskClub

China Unicom (Hong Kong) Ltd (NYSE:CHU) was upgraded by equities research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday.

Other equities analysts also recently issued research reports about the stock. Morgan Stanley downgraded shares of China Unicom (Hong Kong) from an “overweight” rating to an “underweight” rating in a research note on Wednesday, July 5th. Zacks Investment Research upgraded shares of China Unicom (Hong Kong) from a “hold” rating to a “buy” rating and set a $17.00 price target for the company in a research note on Friday, August 18th. Jefferies Group LLC upgraded shares of China Unicom (Hong Kong) from an “underperform” rating to a “buy” rating in a research note on Thursday, April 27th. CLSA downgraded shares of China Unicom (Hong Kong) from an “outperform” rating to an “underperform” rating in a research note on Wednesday, August 16th. Finally, J P Morgan Chase & Co downgraded shares of China Unicom (Hong Kong) from a “neutral” rating to an “underweight” rating in a research note on Monday. Four analysts have rated the stock with a sell rating and eight have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $14.75.

Shares of China Unicom (CHU) opened at 14.89 on Wednesday. China Unicom has a 12 month low of $10.84 and a 12 month high of $16.55. The company has a market capitalization of $35.66 billion, a price-to-earnings ratio of 148.90 and a beta of 0.74. The stock has a 50 day moving average price of $14.77 and a 200-day moving average price of $13.76.

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Institutional investors have recently modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. increased its position in shares of China Unicom (Hong Kong) by 12.5% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 11,250 shares of the Wireless communications provider’s stock worth $167,000 after buying an additional 1,250 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of China Unicom (Hong Kong) by 17.4% in the second quarter. Arrowstreet Capital Limited Partnership now owns 967,317 shares of the Wireless communications provider’s stock worth $14,471,000 after buying an additional 143,609 shares during the last quarter. Cubist Systematic Strategies LLC increased its position in shares of China Unicom (Hong Kong) by 70.7% in the second quarter. Cubist Systematic Strategies LLC now owns 17,478 shares of the Wireless communications provider’s stock worth $261,000 after buying an additional 7,239 shares during the last quarter. Royal Bank of Canada increased its position in shares of China Unicom (Hong Kong) by 8.4% in the second quarter. Royal Bank of Canada now owns 1,255,775 shares of the Wireless communications provider’s stock worth $18,786,000 after buying an additional 96,993 shares during the last quarter. Finally, Parametric Portfolio Associates LLC increased its position in shares of China Unicom (Hong Kong) by 2.5% in the second quarter. Parametric Portfolio Associates LLC now owns 195,942 shares of the Wireless communications provider’s stock worth $2,931,000 after buying an additional 4,773 shares during the last quarter. Hedge funds and other institutional investors own 1.19% of the company’s stock.

China Unicom (Hong Kong) Company Profile

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.