China Telecom sees RMB80B capex, with half for 4G, Marbridge Daily says China Telecom chairman and CEO Wang Xiaochu sees the company's capital expenditures totaling RMB80B this year, with half of that total dedicated to development of 4G, said Marbridge Daily, citing Sohu IT. Reference Link
On The Fly: Analyst Upgrade Summary Today's noteworthy upgrades include: American Tower (AMT) upgraded to Outperform from Neutral at Macquarie... Ameriprise (AMP) upgraded at Morgan Stanley... Builders FirstSource (BLDR) upgraded to Buy from Neutral at Sterne Agee... China Telecom (CHA) upgraded to Outperform from Market Perform at Bernstein... China Unicom (CHU) upgraded to Outperform from Underperform at Bernstein... Discover (DFS) upgraded to Overweight from Neutral at JPMorgan... EV Energy (EVEP) upgraded on asset sale at RBC Capital... GoPro (GPRO) upgraded to Overweight from Neutral at Piper Jaffray... Intel (INTC) upgraded on valuation at RBC Capital... Nike (NKE) upgraded to Overweight from Neutral at Piper Jaffray... Nokia (NOK) upgraded to Market Perform from Underperform at Bernstein... Rice Energy (RICE) upgraded to Buy from Neutral at Goldman... Staples (SPLS) upgraded to Buy from Hold at BB&T... Team (TISI) upgraded to Buy from Hold at BB&T... Ulta Salon (ULTA) upgraded to Overweight from Neutral at Piper Jaffray.
China Telecom upgraded to Outperform from Market Perform at Bernstein Bernstein upgraded China Telecom to Outperform saying the opening of the Hong Kong/Shanghai connect and upside from the JV Tower Co will provide significant support for the sector.