大摩:三大中資電信運營商基本面穩健 予增持評級
摩根士丹利發表研究報告指,美國發出行政命令,禁止美國企業和個人投資由中國軍方擁有或控制的約3家企業,當中包括中國三大電信商。該行估計,美國機構投資者的自由流通量對三大電信商佔比為約15%至30%,認為雖然公司基本面穩定,且估值較低,但消息仍會產生影響。
大摩預期,2020年三家電信運營商的收入將穩定下來,當中,聯通的淨利可望按年增長12%,預期在5G普及化及ARPU提升下,三大電信商基本面仍然穩健。該行分別給予中電信(0728.HK)、聯通(0762.HK)及中移動(0941.HK)目標價3.4港元、8港元及80港元,同予增持評級。
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