JPMorgan: China Telecom (00728.HK) business remains resilient in Q3; maintain "Overweight" rating

Zhitong Finance APP has learned that JPMorgan released a research report stating that it maintains China Telecom (00728.HK) at "Overweight" with a target price of HK$5.2, believing that the company's expected dividend yield of approximately 6.2% in 2026 is attractive. Telecom's third-quarter net profit fell 14.7% year-on-year to RMB 6.6 billion, while service revenue fell 1.5% year-on-year to RMB 115.2 billion, broadly in line with market expectations. The year-on-year declines in service revenue and operating profit narrowed from 2.6% and 16.7% in the second quarter to 1.5% and 14.1% in the third quarter, respectively.