Bernstein:三大运营商中最看好中移动(0941.HK)
美资券商Bernstein发表研究报告指出,中国5G服务预料快将启动,三大运营商中最看好中移动(0941.HK)成为早期领导者,其高端用户向5G服务迁移将驱动业务加快。同时,Bernstein将中联通(0762.HK)评级降至“与大市同步”,目标价从11港元下调至9.6港元;并调低中国电信(0728.HK)的目标价至4.2港元。
报告指,5G服务今年影响很小,预计至年底用户数目仅600万,但2020年影响较大。
Bernstein预期中移动最为受惠,主要得益于其高端用户占有率较大,这部分用户有能力承受高昂的5G手机售价和资费,而5G早期中移动料维持领先地位,得益于单一网络部署简便,以及用户对其优质网络质量的认可。
报告续指,尽管网络共享减少资本开支,长期对中联通和中国电信有利,但给运营商带来的好处要到2021年甚至之后方能显现。
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