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大和下调中电信(0728.HK)目标价至4.85港元评级“买入”
格隆汇 07-11 11:42

大和发表报告指,中电信(00728.HK)业务策略执行仍然良好,移动业务表现亦好於同业。不过在上半年行业面对收入压力下,中电信仍不能独善其身,该行下调其2019至2021年固网业务收入预测介乎0.9%至3.3%,EBITDA利润率预测亦下调0.1至0.4个百分点,期间每股盈测下调介乎1%至8%,目标价相应自5.19元下调至4.85元。

该行指,其网络使用率仍低,料流动服务上客趋势持续,料其流动市占将由去年的19.7%扩至2021年底止的22.9%。报告指,预计中电信仍将维持温和每股盈利增长,料今年增长为9.3%,2019至2021年期间派息料亦会增长,加上目前估值吸引,维持“买入”评级。

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