Deutsche Bank Upgrades China Unicom (CHU) and China Netcom Group (CN) to Buy
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Deutsche Bank upgrades China Unicom (NYSE: CHU) and China Netcom Group (NYSE: CN) from Hold to Buy.
The firm said, "We have conducted extensive valuation work on the 'New Unicom'. Our research extends to previous Chinese telecommunication asset injections. We emerge with a base case offering attractive upside potential and upgrade our recommendation to Buy."
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