富瑞:中電信(0728.HK)業績勝市場預期 予買入評級
富瑞發表研究報告指,中國電信(0728.HK)中期業績符合該行預期,優於市場預期。該行指,中電信物聯網增長令人失望,不過管理層有信心下半年可達到雙位數增長,予其買入評級,目標價3.37港元,三大運營商的排名為中國電信、中國聯通(0762.HK)及中國移動。
富瑞指,中電信將在移動業務取得更多市場份額,在上半年是三大運營商中唯一錄得移動業務正增長的公司。另外,中電信的季度每用户平均收入也處於兩個季度的上升趨勢中,滲透率亦是最高。
富瑞指,中電信決定與中聯通共建和共享其5G網絡,可能會幫助控制資本支出及營運支出,四個運營商共享農村5G網絡的討論仍在進行中,預計相關措施將在2021年發揮作用,並進一步幫助中電信提高利潤率。

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