《大行報告》瑞信下調內地三大電訊H股目標價 評級維持「跑贏大市」
瑞信發表報告指,由於資金流動和缺乏催化劑,第二季中資電訊股股價表現未如理想,但對下半年的前景仍持樂觀態度,預計總收入和淨利潤按年分別增長7%和11%。
瑞信預計,第二季電訊公司的增長速度溫和放緩,料行業服務收入按年增長6.9%,經調整純利料按年增長7.5%。
瑞信指,考慮到人民幣疲軟,該行內地三大電訊H股下調3至6%,但認為行業仍然被低估,因為中移動(00941.HK)必將從良性競爭和國內數字化發展中受惠。而中電信(00728.HK)移動業務份額繼續增長,同時具備ToB項目的最佳增長前景。中聯通(00762.HK)亦由首季開始回復增長,該行對其在同業競爭中的能力更有信心。
瑞信將中移動目標價由80元下調至75.4元,中電信目標價由5元下調至4.8元,中聯通目標價由5.8元下調至5.6元,評級全部維持「跑贏大市」。
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