HALISTER1: ZTE Set for Biggest Gain in 2 Weeks as Goldman Raises Rating, PT

ZTE Set for Biggest Gain in 2 Weeks as Goldman Raises Rating, PT

(Bloomberg) -- Shares climb as much 3% in Hong Kong to head for largest advance since July 20 after Goldman Sachs upgrades stock’s rating to buy from neutral.
  • PT also raised to HK$23 from HK$13, a 16% premium from Monday’s close
  • Goldman cites co.’s overseas push such as contract win at CK Hutchison and VimpelCom, its Nubia spinoff and a new consumer segment strategy, analysts Tina Hou and Donald Lu write in note dated Monday
  • NOTE: July 28, ZTE Rises as Nubia Sale Seen Positive at Credit Suisse
  • NOTE: December 22, ZTE Wins Deal to Merge Hutchison, VimpelCom Italy Networks
To contact Bloomberg News staff for this story: Ryan Lovdahl in Shanghai at rlovdahl@bloomberg.net To contact the editors responsible for this story: Robin Ganguly at rganguly1@bloomberg.net Ron Harui

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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Donald Lu (Goldman Sachs & Co)
Tina Hou (Goldman Sachs & Co)

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