Chunghwa Telecom (NYSE:CHT)‘s stock had its “neutral” rating restated by Zacks in a research note issued to investors on Thursday, American Banking and Market News reports. They currently have a $33.00 price target on the stock. Zacks‘ price target would suggest a potential upside of 6.18% from the stock’s previous close.
Zacks‘ analyst wrote, “Chunghwa Telecom reported mixed financial results for the third quarter of 2013. The company is the largest integrated telecommunications operator in Taiwan. Chunghwa offers a full suite of telecom services through fixed-line, mobile, and data networks throughout Taiwan and to offshore islands. Though the fixed-line service became relatively saturated, we believe Chunghwa’s mobile and Internet/Data operations will drive overall growth over the next several years. Aggressive rollout of fiber-to-the-home, 3G mobile services and upcoming 4GLTE network have placed the company ahead of its competitors. Chunghwa has also expanded into IPTV and cloud-computing services. The Taiwanese telecom market is highly competitive. We believe that the stock is currently fairly valued. We, therefore, maintain our long-term Neutral recommendation on Chunghwa.”
Shares of Chunghwa Telecom (NYSE:CHT) traded down 0.68% during mid-day trading on Thursday, hitting $30.87. 274,661 shares of the company’s stock traded hands. Chunghwa Telecom has a 52 week low of $30.19 and a 52 week high of $33.74. The stock has a 50-day moving average of $31.15 and a 200-day moving average of $31.64. The company has a market cap of $23.947 billion and a price-to-earnings ratio of 18.61.
Chunghwa Telecom Co, Ltd. is a provider of telecommunication services. The Company operates its businesses through domestic fixed-line communication services, including urban telephone, long-distance telephone, intelligent network (NYSE:CHT), integrated service digital network (ISDN), domestic circuit leasing and multimedia on demand (MOD) services; mobile communication services, including global system for mobile communications (GSM) mobile communication, third generation (3G) mobile communication and mobile value-added services; network services, including Internet service provider (ISP) and domestic data exchange business; international fixed-line communication services, including international telephone, international circuit leasing, international data exchange and satellite communication services, as well as services for corporate customers, including integrated services for corporate, international corporate information services, mobile corporate services and data services.
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