高盛:予中國鐵塔(0788.HK)目標價2.04港元 評級“買入”
高盛發表的研究報告指,中國鐵塔(0788.HK)
將於3月9日公佈業績,該行估計去年第四季公司收入增長將回復至7%,而去年第三季增長僅為4.1%,而總計2019年全年收入將按年增6.5%,EBITDA利潤率為58%。
該行估計第四季公司收入將達194.46億元(人民幣,下同),當中塔類業務收入將按年增4.4%至178.18億元,主要受4G及5G基站啟用帶動,而受4G室內覆蓋及規模擴張等,分佈式天線系統(DAS)業務收入則按年增47.2%至7.27億元,跨行業站址應用與信息業務(TSSAI)業務方面收入則料可按年增53.6%至8.4億元,主要受惠跨行業商業模組逐漸成熟及能源經營業務增長所帶動。
該行估計第四季公司EBITDA將按年升12%至112.58億元,全年計EBITDA升6.3%至443.89億元,予目標價2.04港元,評級“
買入
”。
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