《大行報告》瑞銀下調和電香港(00215.HK)目標價至1.95元 評級「買入」
瑞銀發表研究報告指,和電香港(00215.HK)上半年盈利表現低於市場預期,但此次業績亮點為派息比率由75%提升至100%,以及宣派特別息。該行預期2022財年或會再派特別息。
報告指,在經營層面上,期內5G帶動移動業務每用戶平均收入(ARPU),令到在港澳客戶總數減少2%的情況下,本地移動業務收入仍按年升4%。
瑞銀表示,考慮到現時股價水平為撇除現金計算2022財年預測市盈率的9.5倍,認為估值吸引,維持「買入」評級,但由於旅遊限制措施較預長,漫遊數據業務收入未見起色,加上利息收入較預期低及經營開支增加,將2021至2022財年盈利預測降至2.12億及2.57億元,目標價由2.1元降至1.95元。
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