Auriga is out with its report today on China Mobile CHL, maintaining Hold.
In a note to clients, Auriga writes, "We view China Mobile's capex increase announcement for 2011 during its earnings release on 3/16/11 as marginally positive for our communications semiconductor universe. The capex increase of 6.5% YoY for 2011 is not particularly large in and of itself, but it was better than investor expectations for a flat-to-down guide. This news should mitigate
investor fears that China telecom spending maybe headed for a multi-year decline after a big run-up in recent years."
At the time of posting, shares of CHL were trading pre-market at $44.54, down 0.98% from Wednesday's close.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.