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China Tower Could be Weighed by Slower 5G Rollout -- Market Talk

Dow Jones Newswires · Jun 4, 2021 02:25

CHINA TOWER -1.11%

DJ China Tower Could be Weighed by Slower 5G Rollout -- Market Talk

0625 GMT - Slower rollout of the 5G network in China could weigh on telco company China Tower, Citi says. The company's battery exchange business segment could be a potential growth driver, it says. The U.S. investment bank cuts its 2021-2023 earnings estimates for China Tower by 1% amid expectations that the pace of construction for 5G equipment could slow in 1H and the sector's capex growth may remain muted in the next few years. It lowers the stock's target price to HK$1.20 from HK$1.35 and maintains a neutral rating. Shares are 1.8% higher at HK$1.10. (yiwei.wong@wsj.com)

(END) Dow Jones Newswires

June 04, 2021 02:25 ET (06:25 GMT)

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more

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