Jefferies Reiterates a 'Buy' on China Unicom Hong Kong (CHU); Cheaper Smartphones Helping Profit Recovery

Jefferies reiterates a 'Buy' on China Unicom Hong Kong (NYSE: CHU). PT HK$16.

Analyst, Cynthia Meng, said, "Results significantly beat consensus, better margin on lower subsidies, benefiting from inflection of cheap mid-to-low end handset models. We expect to see continued profit margin improvement on reduced handset subsidies. Full year Capex maintained, 2013 Capex tweaked up by 2%."

For an analyst ratings summary and ratings history on China Unicom Hong Kong click here. For more ratings news on China Unicom Hong Kong click here.

Shares of China Unicom Hong Kong closed at $17.18 yesterday.

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