Zhitong Financial APP learned that Lyon issued a research report that reaffirmed China Telecom Corporation's (00728) "buy" rating, raising its net profit forecast for 2022 / 23 by 2.6%, 1.8%, and the target price of HK $3.40. The company's results in the first half of 2022 were in line with the bank's expectations and paid an interim dividend for the first time, with a dividend ratio of 60 per cent and an annualised dividend return of more than 8 per cent. Net profit is expected to grow by double digits in 2022 and rise to 70 per cent in 2023.