《大行报告》花旗上调电盈(00008.HK)目标价至5.1元 评级「买入」
花旗发表研究报告,指电盈(00008.HK)去年收入增1.4%,EBITDA跌3.3%,撇除手机销售的收入跌4%,EBITDA利润率跌1.5个百分点至31.5%。亏损为10.2亿元,远高於预期,主因非经常性亏损增加,如为旗下盈大地产(00432.HK)项目减值,以及税率较高等,撇除有关因素,亏损为2.66亿元。派息稳定,比率大致维持於89%。
该行指,公司旗下香港电讯(06823.HK)收入跌2.2%,EBITDA跌2.3%,经调整资金流增1%;固网业务收入增1.8%,EBITDA增0.6%,EBITDA率跌0.5个百分点至37.6%。第四季Now TV业务收入6.47亿元,EBITDA率为27%,预期固网和企业解决方案会於今年有强劲增长,目标价由5元升至5.1元,评级「买入」。
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