Goldman Sachs: maintains a "neutral" rating on ZTE Corporation (00763) with a target price raised to 28.8 Hong Kong dollars.

Goldman Sachs released a research report stating that it maintains a "neutral" rating on ZTE Corporation (00763) with a target price raised by 14.3% to 28.8 Hong Kong dollars from 25.2 Hong Kong dollars. The bank mentioned that although it is optimistic about the growth potential of ZTE Corporation in non-telecom fields, it sees short-term unfavorable factors due to the slowdown in capital expenditure by Chinese telecom companies in the mid to late stages of the 5G investment cycle. The bank expressed optimism about the growth potential of ZTE Corporation supported by its diversified new businesses and continuous technological development. Therefore, it raised the group's 2025-2026 profit estimates by 0.5%/2.5%/2.1%, and also raised ZTE Corporation's 2025-2026 revenue estimates by 0.9%/1.6%/2.3%.