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《大行報告》瑞信:聯通(00762.HK)次季淨利潤略勝預期 下半年前景正面
阿思達克 08-09 11:03
瑞信發表報告,維持聯通(00762.HK)目標價5.6元及「跑贏大市」評級。該行指。聯通次季收入、EBITDA大致符合預期,淨利潤略勝該行預測,但公司沒有改變全年財務及擴建網絡指引。該行維持對聯通今年至2024年每股盈利預測,相信其業務增長動力大致維持。 該行亦指,聯通重申預計移動每用戶平均收入增長穩定至持平,並稱或不再推出手機補貼,該行將繼續監察聯通手機數據流量增長,又指其今年數據流量按年升13%,較去年按年升32%放緩。 該行同時認為,聯通半年EBITDA利潤率減少為可控情況,因公司目標為相對穩定的全年EBITDA利潤率,公司亦預計折舊及攤銷成本持平,有助達到全年淨利潤雙位數增長目標。該行不預期聯通進行回購,但派息比率有潛在提升空間,該比率上半年為46%。
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