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M Stanley: CHINA TELECOM (00728.HK) 4Q25 Results Miss; TP $5.5
2026-03-25 14:09:20
CHINA TELECOM (00728.HK)'s 4Q25 service revenue was flat YoY at RMB119 billion, 0.7% lower than Morgan Stanley's expectation, Morgan Stanley published a research report saying.

EBITDA fell by 5.3% YoY to RMB28 billion, 8.2% below estimation, primarily due to lower-than-expected revenue. Net profit decreased by 35% YoY to RMB2.4 billion, 36% below prediction. Its full-year DPS grew by 4.7% YoY to RMB0.272, implying a dividend payout ratio of approx. 75%.

Therefore, the broker kept rating at Equalweight on CHINA TELECOM, with a target price of $5.5.
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