Shares of China Unicom Ltd. (NYSE:CHU) gapped up before the market opened on Thursday . The stock had previously closed at $10.50, but opened at $10.99. China Unicom shares last traded at $11.60, with a volume of 280,618 shares.

CHU has been the topic of a number of recent analyst reports. Mizuho downgraded shares of China Unicom from a “buy” rating to a “neutral” rating in a report on Wednesday, May 18th. Jefferies Group downgraded shares of China Unicom from a “buy” rating to a “hold” rating in a report on Monday, July 18th. TheStreet downgraded shares of China Unicom from a “hold” rating to a “sell” rating in a report on Wednesday, April 27th. Sanford C. Bernstein raised shares of China Unicom from a “market perform” rating to an “outperform” rating in a report on Thursday. Finally, Nomura raised shares of China Unicom from a “reduce” rating to a “buy” rating in a report on Friday, April 22nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $13.95.

The company has a market capitalization of $28.74 billion and a P/E ratio of 24.49. The firm has a 50-day moving average price of $10.54 and a 200-day moving average price of $11.27.

An institutional investor recently raised its position in China Unicom stock. Bank of Montreal Can raised its position in shares of China Unicom Ltd. (NYSE:CHU) by 4.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 88,999 shares of the company’s stock after buying an additional 3,398 shares during the period. Bank of Montreal Can’s holdings in China Unicom were worth $1,074,000 at the end of the most recent quarter.

China Unicom (Hong Kong) Limited is an investment holding company. The Company is an integrated telecommunications operator. The principal activities of the Company’s subsidiaries are the provision of cellular and fixed-line voice and related services, broadband and other Internet-related services, information communications technology services, and business and data communications services in the People’s Republic of China (PRC).

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