《大行報告》瑞信維持中國鐵塔(00788.HK)「跑贏大市」評級目標價2.55元
瑞信報告指中國鐵塔(00788.HK)上半年收入輕微高過預期,EBITDA輕微差過預期。公司總收入按年升7.5%,較2018年全年按年上升4.6%的幅度有所加速,鐵塔業務收入由2018年按年上升2.3%加速至期內按年上升5.1%,跨行業站址應用與信息業務(TSSAI)及分佈式天線系統(DAS)業務收入分別按年升125.4%及52.2%,提供進一步增長動力。
該行指,中國鐵塔上半年收入、EBITDA及純利相當於該行全年預期(該行預期高過市場預期)的48.3%、49.4%及41.8%。由於數據使用量增加以及5G部署的網絡密集度增加,公司成為結構性增長的受益者,瑞信維持該股「跑贏大市」評級,目標價2.55元。
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