China Telecom Corp. (CHA) Shares Gap Up to $51.70
China Telecom Corp. (NYSE:CHA) shares gapped up prior to trading 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.
CHA has been the subject of several research analyst reports. Citigroup Inc. cut China Telecom Corp. from a “buy” rating to a “neutral” rating in a research report on Wednesday, June 15th. Bank of America Corp. began coverage on China Telecom Corp. in a research report on Monday, August 15th. They issued a “top pick” rating for the company. They noted that the move was a valuation call. Finally, Zacks Investment Research upgraded China Telecom Corp. from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 2nd.
The stock has a market capitalization of $42.91 billion and a price-to-earnings ratio of 13.95. 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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