Citi Downgrades China Unicom (CHU) to Hold
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Citi downgrades China Unicom (NYSE: CHU) from Buy to Hold.
Citi analyst says, "Challenging years ahead. MOU/ARPU weakness and negative price elasticity in '08 do not bode well for a more competitive market in '09. CU could be caught in a technology transition (pending WCDMA launch), while CT is in full assault. Downside risk to margins if CU is forced to follow CT's handset subsidy."
China Unicom (Hong Kong) Limited, formerly China Unicom Limited, is an investment holding company.
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Is 'analyst' still a profession?
Joe N Zhou on Nov 13, 2008 12:07 PMThese analysts upgrade a stock when it is high and going up, and downgrade it when it is low and going down. All they do is help their clients 'buy high and sell low'. I am so surprised that they could stay in their job after all these losses investors suffered during the past quarter century.