vested
DJ MARKET TALK: HSBC Cuts Comba Telecom Target To HK$12.20
May 20, 2010
1048 [Dow Jones] STOCK CALL: HSBC keeps Comba Telecom (2342.HK) at Overweight, but cuts target to HK$12.20 from HK$13.50, following 1-for-10 bonus share issue in late May.
Says, Indian government lifted informal ban on Chinese telecom operators to import equipment positive to company, "although India accounted for 5% of company's revenue in 2009, we believe it is an important growth area given the 3G network build-out starting from 2H 2010".
Keeps forecast for net profit in 2010 to grow by 42% to HK$799 million.
Source: Dow Jones Newswire