《大行報告》匯豐研究上調中電信(00728.HK)目標價至3.7元 評級「買入」
匯豐研究發表報告指,中電信(00728.HK)去年第四季業績表現強勁,當中ICT及寬帶業務表現突出,整體收入及EBITDA分別較預測高出7.4%及3.2%,全年每用戶平均收入(ARPU)跌幅由去年的9.3%收窄至3.7%。
該行預期,2021年移動業務ARPU將按年持平,考慮到ICT業務將持續增長,上調今年收入及EBITDA預測約1.1%,並上調經營利潤預測12%,預期今年度派息率為38%,較近年的41%至42%水平下降,在回歸A股產生攤薄前料每股派息為12.5港仙。
匯豐研究提到,中電信管理層表明將繼續投資於ICT領域,預期與5G推出及現有業務可良好配合,目標價由3.6元上調至3.7元,維持「買入」評級。
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