JPMorgan: China Mobile (00941.HK) Q3 Actual Profit Better Than Headline Numbers; Reiterates as Top Pick Among Chinese Telecom Stocks

Zhitong Finance APP has learned that JPMorgan released a research report stating that China Mobile's (00941.HK) third-quarter profit fell 12% year-on-year, 5% below the market consensus, but the profit decline mainly came from non-operating items; excluding non-operating items, third-quarter net profit was flat year-on-year. The bank reiterated that China Mobile's Hong Kong shares are its top pick among Chinese telecom operators, maintaining an "Overweight" rating and a target price of HK$100.