Morgan Stanley sees over 80% chance for China Telecom, China Unicom shares to rise in next 60 days

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There is more than 80% chance for China Telecom's Hong Kong-listed share price to gain in the next 60 days, with target price at HK$5, rating Overweight, Morgan Stanley said in a research note.

China Telecom's service revenue is expected to grow by 6.4% year over year in the fourth quarter of 2022 and its full-year net profit to rise 11.9%, the bank said.

The strong growth momentum will likely last into . . .

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