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《大行报告》瑞银上调中电信(00728.HK)目标价至4.15元 评级「买入」
阿思达克 03-10 09:43
瑞银发表报告指,中电信(00728.HK)业绩最大亮点是公布在A股上市,相信集团是次上市时机正确,因行业重回复苏轨道,及5G带来新的变现模式,令集团可受惠於策略夥伴,及更加统一的员工激励结构。

业绩方面,集团去年盈利按年增长1.6%,大致符合该行预期,若撇除50亿元人民币的旧3G资产撇账,盈利估计上升约20%。瑞银上调中电信股份目标价,由3.95元升至4.15元,评级维持「买入」,并微升其今年至2023年各年盈测分别2%、4%及3%。

该行认为,集团今年的资本开支指引仍得到良好控制,按年增长2.6%,虽然A股上市可能令实际开支较高,但相信现时电信公司有更大信心可根据实际业务需求管理资本支出水平,且集团的市盈率估值仍较历史平均低超过一个标准差。

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