《大行報告》大摩下調香港電訊(06823.HK)目標價至13元 評級「增持」
摩根士丹利發表報告指,香港電訊(06823.HK)去年下半年服務收入按年下跌1.4%至159億元,EBITDA則按年增長0.5%至70億元。而集團宣派末期息每股42.07仙,意味股息收益率爲6.8%,自其2011年上市以來,集團過去十年的股息每年都有正增長,顯示出其韌性。
大摩下調香港電訊今明兩年服務收入預測約9%,EBITDA則降約4%,反映漫遊收入及國際服務收入的恢復延遲。至於股份目標價由14元降至13元,評級維持「增持」。該行重申香港電訊爲首選,認爲其今年預測股息收益率吸引,約爲7%;於2021年至2024年的每股派息年均複合增長率亦有3.5%。
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