SEHK:788Telecom
China Tower (SEHK:788) Stock Looks Cheap as Revenue Questions Persist
China Tower stock closed at HK$9.315 after a choppy few months that left the 90 day return down about 17%. The market came into this earnings print with low expectations. The headline is that profits are doing the heavy lifting. Quarterly net income reached about C¥3.5b and trailing earnings per share now sit around C¥0.76, which supports a P/E of 10.5x, well below Asian telecom peers. The immediate price reaction tells only a small part of the story. The bigger question is how long this...