Goldman Sachs expects telecom market to go through adjustment in Sept.

Goldman Sachs released a report and took fancy to two telecom stocks - SmarTone Telecommunications Holdings (0315) and Sunday Communications (0866), and predicted that the telephone market in Hong Kong will witness adjustment in 3 -6 months. The fund house upgraded the investment rating of the two stocks from ¡§in line with the broad market¡¨ to ¡§speculative buying¡¨, while maintained the 6-month target prices of SmarTone and Sunday at HK$11.5 and HK$0.55

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