CHA - China Telecom: Positive On Market Share Gains But Downside Risks Remain
- China Telecom has gained market share in the Chinese mobile market at the expense of its competitors, as evidenced by its mobile service revenue growth and mobile subscriber net additions.
- There are mixed views on China's 5G progress, and a lower-than-expected 5G penetration rate and higher-than-expected energy costs could pose downside risks to China Telecom's future earnings.
- China Telecom trades at consensus forward FY 2021 P/E and EV/EBITDA multiples of 7.88 times and 1.96 times, respectively, and it offers a consensus forward FY 2021 dividend yield of 5.55%.
For further details see:
China Telecom: Positive On Market Share Gains But Downside Risks Remain