UBS: Raises target price for China Unicom to HK$11.6, maintains "buy" rating.

According to the Zhitong Finance and Economics APP, UBS released a research report stating that China Unicom (00762.HK) saw a 1% year-on-year increase in service revenue in the second quarter, a 0.8% decrease in EBITDA, and a 4.6% increase in net profit, roughly in line with expectations. Management reiterated their optimism about growth in the second half of the year and full-year EBITDA growth guidance, maintaining capital expenditure guidance for the full year at 55 billion yuan, a 10% decrease year-on-year. Following the announcement of China Unicom's performance, the bank raised its profit forecast for 2025 to 2028 by 1-2% and raised its target price by 7% from 10.8 Hong Kong dollars to 11.6 Hong Kong dollars, maintaining a "buy" rating.