＜Research＞G Sachs Adds CHINA TOWER (00788.HK) TP to $1.2, Rating Neutral

　　Investors' focus on CHINA TOWER (00788.HK) -0.010 (-0.962%) Short selling $34.15M; Ratio 7.090% remains on its 2026 dividend as the Company may see strong growth in net profit in 2026, driven by lower depreciation expense, Goldman Sachs issued a research report saying.

　　Goldman Sachs expected the Company's total depreciation expense to decrease by RMB6.1 billion in 2026.

　　Goldman Sachs also expected CHINA TOWER's 2024/ 2025 net profit to grow by 12% annually, and 2026 net profit to rise 49% to RMB18.2 billion, with a dividend payout ratio of 81% and a dividend yield of 8.1%.

　　The broker kept rating at Neutral on CHINA TOWER, and added its target price of $1.2 from $1.06. Goldman Sachs expected 2024-2026 DPS to be $0.047/ $0.055/ $0.084.

　　(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-07-04 16:25.)

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