《大行報告》富瑞上調中移動(00941.HK)目標價至67.72元 評級「買入」
富瑞發表報告指,中國移動(00941.HK)今年上半年收入、EBITDA及純利分別按年增長8%、7%及19%,較市場預期高5%、4%及13%,並高於該行今年的EBITDA及純利增長預測。
該行表示,集團中期派息增長38%,派息比率爲58%,單計中期息的股息收益率爲4.5%,今年全年估計達9%。而管理層提到明年的派息比率料將提高至70%,高於該行預期的66%,加上每股盈利增長,估計集團明年的股息收益率達10.7%。
富瑞上調中移動股份目標價,由64.67元升至67.72元,相信集團明年往後的派息比率將提升至70%以上,料每年提高2個百分點。而集團的市盈率對盈利增長比率(PEG)爲0.9倍,估值仍然非常吸引,評級維持「買入」。
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