Zacks: Analysts Set $36.00 Target Price for Chunghwa Telecom Co., Ltd (CHT)

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Chunghwa Telecom Co., Ltd (NYSE:CHT) has received an average broker rating score of 3.00 (Hold) from the one brokers that cover the company, Zacks Investment Research reports. One analyst has rated the stock with a hold rating.

Analysts have set a 12 month consensus target price of $36.00 for the company, according to Zacks. Zacks has also assigned Chunghwa Telecom an industry rank of 220 out of 257 based on the ratings given to its competitors.

Several equities analysts have issued reports on the company. HSBC lowered Chunghwa Telecom from a “hold” rating to a “reduce” rating in a report on Wednesday, October 31st. Morgan Stanley downgraded shares of Chunghwa Telecom from an “equal weight” rating to an “underweight” rating in a research note on Tuesday, August 7th. Finally, Deutsche Bank downgraded shares of Chunghwa Telecom from a “hold” rating to a “sell” rating in a research note on Tuesday, July 10th.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC boosted its stake in shares of Chunghwa Telecom by 2.4% during the second quarter. Renaissance Technologies LLC now owns 3,225,484 shares of the utilities provider’s stock worth $115,859,000 after buying an additional 76,100 shares during the period. TD Asset Management Inc. boosted its stake in shares of Chunghwa Telecom by 2.4% during the third quarter. TD Asset Management Inc. now owns 1,728,500 shares of the utilities provider’s stock worth $62,070,000 after buying an additional 40,600 shares during the period. Aperio Group LLC boosted its stake in shares of Chunghwa Telecom by 11.4% during the second quarter. Aperio Group LLC now owns 1,333,223 shares of the utilities provider’s stock worth $47,889,000 after buying an additional 136,240 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Chunghwa Telecom by 0.7% during the second quarter. Dimensional Fund Advisors LP now owns 899,427 shares of the utilities provider’s stock worth $32,303,000 after buying an additional 6,118 shares during the period. Finally, Advisors Asset Management Inc. boosted its stake in shares of Chunghwa Telecom by 990.4% during the second quarter. Advisors Asset Management Inc. now owns 702,947 shares of the utilities provider’s stock worth $1,584,000 after buying an additional 638,479 shares during the period. Institutional investors and hedge funds own 2.87% of the company’s stock.

Shares of CHT stock traded up $0.33 during mid-day trading on Friday, hitting $34.68. 9,275 shares of the stock were exchanged, compared to its average volume of 106,415. The firm has a market cap of $26.62 billion, a price-to-earnings ratio of 21.15 and a beta of 0.30. Chunghwa Telecom has a 12-month low of $33.69 and a 12-month high of $39.33.

About Chunghwa Telecom

Chunghwa Telecom Co, Ltd. provides telecommunication services in Taiwan. It operates through Domestic Fixed Communications Business, Mobile Communications Business, Internet Business, International Fixed Communications Business, and Other Business segments. It offers local and domestic long distance telephone and leased line, broadband access, Wi-Fi, and multimedia on demand services; information and communication technology (ICT), corporate, and bill handling services; and interconnection with its fixed-line network to other mobile and fixed-line operators.

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