Morgan Stanley Maintains "Market-Perform" Rating on China Mobile with HK$80 Target Price

Stock News04-21 11:46

Morgan Stanley has issued a research report indicating that CHINA MOBILE's first-quarter performance exceeded expectations, primarily driven by non-operational items. Service revenue for the first quarter fell 1.1% year-on-year to RMB 219.85 billion, slightly above the firm's projections. EBITDA decreased by 5% year-on-year to RMB 76.66 billion, marginally below expectations. Net profit declined by 4.2% year-on-year to RMB 29.34 billion, surpassing the firm's forecast by 4.5%, largely due to contributions from interest income and profits from associates. The firm maintains a "Market-Perform" rating on CHINA MOBILE with a target price of HK$80.

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