《大行報告》麥格理調整中資電訊股目標價 看淡中國鐵塔(00788.HK)
麥格理發表報告,指中國電訊企業5G部署完成約50%,惟上客量較弱,網絡利用率低,每用戶平均收入(ARPU)增幅較小,但成本增幅較高。該行預計,2021至2024年期間,電訊行業移動業務收入持平,寬頻收入複合年增長率為5%,工業數字化收入複合年增長率高達20%。
該行認為,電訊業的三大領域包括物聯網、數據中心比企業平均利潤更高以及虧損的雲業務,調整中資電訊股目標價,看淡中國鐵塔(00788.HK),列於沽售名單,目標價為0.69元;中國移動(00941.HK)目標價由67.3元下調至63.1元,中國電信(00728.HK)目標價則由3.44元上調至3.63元,中國聯通(00762.HK)目標價由6.63元下調至5.65元。
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