The Zhitong Finance App learned that Bank of America Securities released a research report stating that it covered China Mobile (00941) for the first time and gave it a “buy” rating, with a target price of HK$98. According to the bank, China Mobile is the largest communications service operator in China, with 1 billion mobile users, 337 million broadband users, and 33.8 million enterprise customers.

Bank of America Securities is optimistic that China Mobile's communications business platform has a huge user base and leading network; the scale of artificial intelligence data centers and intelligent computing power is growing rapidly, and the monetization of AI services and applications continues to improve; at the same time, the company's cash flow is resilient, balance sheet is stable, and has continuous dividend payout capabilities.

The bank believes that China Mobile's moat is that it can integrate communication networks, computing power, cloud and AI to establish a unified national platform while serving the consumer and corporate customer markets. The bank estimates that the company's earnings per share will grow at a compound annual rate of 3.5% from 2026 to 2028, forecast earnings per share of 6.05 yuan in 2026, and an estimated payout rate of 75%.

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