China Telecom Corp. (NYSE:CHA) shares gapped up before the market opened on Friday . The stock had previously closed at $50.72, but opened at $51.70. China Telecom Corp. shares last traded at $53.01, with a volume of 124,717 shares traded.

Several research firms have recently issued reports on CHA. Bank of America Corp. began coverage on shares of China Telecom Corp. in a report on Monday, August 15th. They set a “top pick” rating on the stock. They noted that the move was a valuation call. Citigroup Inc. cut shares of China Telecom Corp. from a “buy” rating to a “neutral” rating in a research note on Wednesday, June 15th. Finally, Zacks Investment Research raised shares of China Telecom Corp. from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 2nd.

The firm has a market cap of $42.91 billion and a price-to-earnings ratio of 13.59. The firm’s 50 day moving average price is $50.63 and its 200-day moving average price is $49.14.

China Telecom Corporation Limited is an integrated information service provider in the People’s Republic of China (PRC). The Company offers a range of telecommunications services, including wireline voice services, mobile voice services, Internet access services, value-added services, integrated information application services, telecommunications network resource services and lease of network equipment and other related services.

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