UPDATE: Jefferies Lowers PT on China Telecom Limited Following 1H13 Results
August 22, 2013 at 11:44 AM EDT
In a report published Thursday, Jefferies analyst Cynthia Meng reiterated a Buy rating on China Telecom Corporation Limited (NYSE: CHA ), and lowered the price target from $64.00 to $60.60. In the report, Jefferies noted, “1H13 results 1.6% above consensus. Expect lower handset subsidy-to-sales ratio in 2H13. Mgmt guided FY13E
