China Unicom (Hong Kong) Ltd., the country’s second-biggest mobile-phone company, and China Telecom Corp. had their ratings lifted to “buy” at Deutsche Bank AG, which cited a “benign competitive” environment.

Deutsche Bank, which previously rated Unicom “sell,” boosted its share-price estimate by 78 percent to HK$13, according to a research report today.

The brokerage raised its recommendation on China Telecom from “hold,” and increased its share forecast for the country’s biggest fixed-line phone carrier by 35 percent to HK$4.60, the report said.

Deutsche Bank favors China’s telecommunications industry, and cut its recommendation on Indonesia’s to “neutral” from “overweight,” William Bratton and Crystal Ye, analysts at the brokerage said in the report.

 source:businessweek