DBS cut its target for China Telecom stock to HKD 5.70

Published on 10/09/2026 at 12:13 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

First-half 2026 revenue fell 3.90 percent to RMB 259.0 billion. China Telecom stock stood at HKD 4.68 on October 9, 2026, up 3.54 percent from HKD 4.53.

Key points in brief

DBS cut its China Telecom target from HKD 5.90 to HKD 5.70 on September 17, 2026.
First-half 2026 revenue fell 3.90 percent to RMB 259.0 billion, while intelligent-business revenue rose 7.10 percent.
China Telecom stock stood at HKD 4.68 on October 9, 2026, up 3.54 percent from HKD 4.53.

China Telecom, CNE1000002V2, Illustration mit AI erstellt.

DBS cut its target for China Telecom stock from HKD 5.90 to HKD 5.70 on September 17, 2026, while maintaining a Buy rating. The report linked the lower target to the value-added tax reclassification and softer traditional business growth, but highlighted the operator's shift toward intelligence services.

Three dated signals shape the stock

On August 20, 2026, China Telecom presented first-half results showing CNY 244.1 billion in principal business revenue and CNY 19.6 billion in net profit, according to the Yahoo Finance transcript. On September 17, 2026, DBS lowered its target from HKD 5.90 to HKD 5.70. On October 9, 2026, the stock stood at HKD 4.68 on HKEX, up 3.54 percent from the HKD 4.53 prior close.

What does the target cut change?

DBS also reduced its fiscal 2026, fiscal 2027 and fiscal 2028 earnings forecasts by 6.10 percent, 6.70 percent and 7.90 percent. Its analysis said first-half operating revenue declined 4.00 percent year over year to RMB 260.5 billion, while intelligence revenue rose 7.10 percent to RMB 31.1 billion, according to the September 17 report.

The operating mix is the central counterweight. China Telecom said intelligent revenue accounted for 12.80 percent of principal business revenue in the first half of 2026, compared with the company's long-term target of more than 20.00 percent. Cloud revenue reached CNY 61.8 billion, up 7.80 percent year over year, while free cash flow reached CNY 28.9 billion, up 121.00 percent, according to Yahoo Finance.

October reporting date approaches

China Telecom A is expected to report results for the quarter ended September 30, 2026, on October 23, 2026, with one analyst estimating quarterly earnings of CNY 0.07 per share and revenue of CNY 122.35 billion, according to Finanzen.ch. China Telecom Corporation Limited is identified as China Telecom under ISIN CNE1000002V2 and ticker 0728.HK on HKEX by Global Banking and Finance Review.