＜Research＞UBS Elevates PCCW (00008.HK) to $4.6, Rates Buy

　　UBS released a report, raising its target price on PCCW (00008.HK) 0.000 (0.000%) Short selling $1.04M; Ratio 4.396% from $4.4 to $4.6, based on the upward revision of its target price on HKT-SS (06823.HK) +0.050 (+0.527%) Short selling $5.91M; Ratio 4.353% to $12.5, as well as the adjustment of its profit forecast in light of PCCW's interim results. The broker said PCCW's current share price is supported by a forecasted dividend yield of 9.7%. If the dividend tax is waived for Southbound Stock Connect investors, it would be a potential catalyst for the stock.

　　The broker maintained its Buy rating on PCCW.

　　Related NewsJPM Maintains PCCW's Neutral Rating, Considers HKT-SS Better Investment Target

　　UBS also noted that PCCW's interim dividend of HK9.77 cents per share was flat YoY, compared to the 2.7% YoY rise in HKT's distribution per share stapled unit. This implied that PCCW has transferred 97% of HKT's dividend to its shareholders, which is similar to that in 2023 and is in line with the broker's full-year dividend forecasts.

　　(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-07-26 16:25.)

　　AAStocks Financial News