crazystarcasinonodepositbonus| Morgan Stanley: Give China Telecom an "overweight" rating target price of HK$5

Morgan Stanley released a research report sayingcrazystarcasinonodepositbonus, China Telecom (00728)'s service revenue in the first quarter of 2024 increased by 5% year-on-year to RMB 124.3 billion, outperforming its peers. Among them, revenue from traditional services increased by 2 per cent annuallycrazystarcasinonodepositbonus.6% to RMB 85.7 billion; industrial digital business revenue increased by 10.6% year-on-year to 38.7 billion yuan, accounting for 31.1% of total service revenue. In the first quarter of this year, the Group's EBITDA increased by 3.6% year-on-year to 35.1 billion yuan, and its net profit increased by 7.7% year-on-year to 8.6 billion yuan. The performance was in line with expectations. Morgan Stanley maintains its target price at HK$5 and its rating is "overweight".