《大行報告》摩通升中移動(00941.HK)評級至「增持」 指控制資本指引佳提升透明度
摩根大通發表報告表示,中移動(00941.HK)管理層於分析員會議上的資本開支、手機補貼、財務及股息分派給予正面評價,有助減輕市場對公司投資5G的疑慮,決定上調對其投資評級,由「中性」升至「增持」,以反映更佳資本開支控制及財務穩健的因素,提升透明度,維持目標價70元。
該行指,中移動今年資本開支預算1,800億人民幣,其中包括投資5G的1,000億人民幣,僅較去年較低水平高出8%,公司計劃今年建設25萬個5G基礎,料中移動可提升相關基站至35萬個,對比市場預期介乎30萬個至40萬個,而中移動管理層重申在2020年至2022年的5G投資期不會再提升資本開支。
摩通指,中移動去年第四季業績改善,相信疫情影響屬短暫,指其去年每股股息升至3.25港元,相信今年可保持平穩,股息回報達7厘。(wl/t)
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