China Unicom (NYSE:CHU) Rating Downgrade

China Unicom (NYSE:CHU) was decreased by Nomura from “Buy” rating to “Neutral” rating in a note released on Wednesday, 30 November.

Despite the stock downgrade NYSE:CHU is at the moment trading 6.65% higher at $12.03 as of 11:32 AM New York time. China Unicom’s stock is 0% in the past 200 days. It has underperformed the S&P 500, which has gained 16.31% in the same time period.

Out of 4 analysts covering China Unicom, 2 rate it a Buy, 2 indicate a Hold while 0 suggest a Sell. The highest target is $19.61 and the lowest is $12.51 according to Thomson/First Call. The 12-month mean target is $15.48, which means upside potential of 28.68% over the current price.

China Unicom (NYSE:CHU) Profile

China Unicom (Hong Kong) Limited is a Hong Kong-based investment holding company principally engaged in the provision of telecommunications services. The Company’s businesses include mobile businesses, fixed-line businesses, enterprise businesses and international businesses. Its mobile businesses include the provision of call services, roaming services, mobile broadband services, traditional value-added services such as short message services, multimedia message services and wireless Internet access card, as well as new value-added services such as mobile music, mobile television and Wo portal services.

China Unicom (NYSE:CHU) traded up 6.65% on 30 November, hitting $12.03. A total of 892,600 shares of the company’s stock traded hands. This is up from average of 276,602 shares. China Unicom has a 52 week low of $9.89 and a 52 week high of $13.26. The company has a market cap of $28.95B and a P/E ratio of 50.03.

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