Bank of America sets HKD 6.00 target for China Telecom stock

Bank of America sets HKD 6.00 target for China Telecom stock China Telecom (ISIN CNE1000002V2) received a HKD 6.00 price target when Investing.com reported Bank of America starting coverage with a Buy rating on October 20, 2026. The call comes before China Telecom's third-quarter results and against weaker first-half earnings. Futu reported that first-half operating revenue was CNY 259.0 billion, down 3.9 percent year over year, while net profit attributable to shareholders fell 14.9 percent to CNY 19.6 billion. The same analysis put second-quarter revenue at CNY 127.6 billion, down 5.4 percent, and quarterly net profit at CNY 12.2 billion, down 13.5 percent. Bank of America's target sits above the latest Hong Kong quotation, but the distance is stated in different currencies and is not converted here. The more immediate test is whether the coming report shows progress in cloud and intelligent services without further pressure on the legacy communications business. On August 20, 2026, China Telecom's interim presentation reported CNY 244.1 billion in comparable core revenue and CNY 19.6 billion in net profit, according to Yahoo Finance. On September 28, 2026, Futu highlighted CNY 61.8 billion of China Telecom Cloud revenue, up 7.8 percent year over year. On October 20, 2026, Investing.com reported Bank of America's HKD 6.00 target. Moomoo lists October 22, 2026 as the expected date for China Telecom's third-quarter results. Its estimate is CNY 122.61 billion of revenue and CNY 6.52 billion of net income, based on one analyst forecast. The earnings pressure has not eliminated the investment case around infrastructure. China Telecom's first-half free cash flow reached CNY 28.9 billion, up 121.3 percent year over year, while operating cash flow rose 29.7 percent, according to Futu. The figures give the October report two competing benchmarks: weaker reported profit and faster cash generation. China Telecom was last at HKD 4.45 on the HKEX on October 21, 2026 at 4:08 p.m.