20150612-JEFFERIES-中兴通讯(0763):CHINA_TMT_TOUR,KEY_TAKEAWAYS_FROM_MEETING_WITH_ZTE-879689

$中兴通讯(hk00763)$ During Jefferies 13th China TMT tour,we hosted a meeting with ZTE.Key takeaways:(1)Increasing 4G market share in China,expect opportunities in broadband

$中兴通讯(hk00763)$  
During Jefferies 13th China TMT tour,we hosted a meeting with ZTE.Key takeaways:(1)Increasing 4G market share in China,expect opportunities in broadband beyond 2015.(2)Enterprise market in China to drive long term growth.(3)Industry YTD smartphone shipments down YoY,expect FY15 flattish at best.Maintained FY15 smartphone target of 60mn.Revise up PT by 18% to HK$33.Buy.
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