《大行报告》瑞银微升中国铁塔(00788.HK)目标价至2.27元 评级「买入」
瑞银发表研究报告,指中国铁塔(00788.HK)将於下周公布业绩,预期其去年第四季业绩稳固,收入按年升7.6%,主因来自铁塔收入持续改善,但部份被跨行业站址应用与信息业务(TSSAI)因高基数而增长放缓所抵销。预期EBITDA按年升7%,反映因持续投资新业务致利润率微跌;纯利料按年升19%,与此前季度相若。
该行指出,投资者关心中国铁塔与营运商现有合约届满,以及对今年收入展望,但相信有关忧虑未能完全在去年业绩中纾解;瑞银预期,铁塔未来12月个月经营持续改善,将可带动股份估值重评,重申「买入」评级,目标价由2.26元微升至2.27元。
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