《大行報告》瑞信下調中電信(00728.HK)目標價至5.2元 評級「跑贏大市」
瑞信發表研究報告,指對中國電信(00728.HK)2022至2024年每股盈測做出低個位數調整,以及預測工業數字化業務的投資需求增加,將中國電信目標價下調約13%,由6元降至5.2元,維持「跑贏大市」評級,指出中電信仍然是該行首選,其2022至2025年EBITDA複合年增長率預測爲行內最高,達3.6%。
瑞信表示,中國電信2021財年移動收入略高於該行預期,但其每用戶平均收入(ARPU)增長超出預期,而移動份額增長的投資主題在2022年仍保持不變,認爲中電信在工業數字化業務中具有最佳增長前景,擁有行業領先的IDC和雲增長。
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