Chunghwa Telecom Downgraded to Underperform
February 15, 2011 at 10:32 AM EST
We downgrade our recommendation for Chunghwa Telecom Co. Ltd. (CHT), the largest integrated telecom service provider in Taiwan, to Underperform, ahead of the fourth quarter of 2010 financial results. The reason for the change in recommendation is the current high-level of valuation of the company. Chunghwa is currently trading at the high-end of its 52-week [...]