《大行報告》野村升中國鐵塔(00788.HK)目標價至2.35元 評級「買入」
野村發表報告表示,中國已進入5G時代及電信營運商正努力跟上其5G路線圖,認為隨著建設活動逐漸恢復正常,基建部署應在今年第二季度開始加速,因此預期5G基建供應鏈應看到需求逐漸回升。
該行補充,中國鐵塔(00788.HK)在供應鏈中處於有利地位,主因其較高使用率帶動收入穩定增長及盈利能力,以及穩健的現金支出和穩健的資本支出,該行認為市場對於5G塔站降價的擔憂過高,因為三大運營商都上調了塔租成本。該行維持其「買入」評級,但輕微下調其今明兩年盈利預測0.7%及1.5%,以反映新型肺炎的負面影響,目標價則由2.2元升至2.35元。
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