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中金:降聯通(0762.HK)目標價至6.1港元 5G投資加大現金流壓力
格隆匯 03-24 15:36

中金公司發表研究報告指出,中國聯通(0762.HK)去年業績符合預期,但預期5G投資擴張將導致現金流壓力上升,又由於市場情緒導致平均估值下挫,因此下調聯通H股目標價至6.1港元,A股目標價亦調低至5.5元人民幣,維持中性評級不變。

中金報告中指出,中國聯通今年的資本支出預算按年上升約25%至700億元人民幣,使得現金流進一步吃緊,公司在加快5G建設投資和提升派息間無法兼顧。

報告提到聯通去年業績符合預期,收入同比持平,全年派息率維持在40%,預期公司的今年5G用户有望達到約5000萬,推動服務收入增長約1.2%。

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