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《大行報告》匯豐研究下調電盈(00008.HK)目標價至4.5元 評級「持有」
阿思達克 08-10 10:58
匯豐環球研究發表報告,下調對電訊盈科(00008.HK)目標價,由5元降至4.5元,維持「持有」評級。

該行認為,目前為電訊盈科把Viu變現的好時機,把Now TV售予香港電訊(06823.HK)為合理做法,且派發盈大地產(00432.HK)股份作為特別息,可減少電訊盈科於盈大地產的曝險,並提供額外流動性滿足投資所需。該行按香港電訊估值下調、Now TV目前估值下調至19.5億元、方案業務估值因收入減少而下降及減少盈大地產持股價值等因素,下調對電訊盈科的目標價。

報告亦提及,電訊盈科就媒體資產作策略性檢討,有意把Viu串流媒體業務變再現。Viu串流媒體業務於2017年引入淡馬錫、弘毅投資、鴻海投資等投資者時,估值為48億元。該業務中期收入按年升14%,EBITDA虧損由去年同期2.35億元收窄至8,100萬元,在廣告市場艱難下,付費訂戶數目表現韌性。

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