《大行報告》麥格理下調中資電訊股目標價 評級維持不變
麥格理發表研究報告指,三大中資電訊商上半年移動服務收入按年上升3%,ARPU輕微增長1%,5G ARPU更錄得下跌,與4G月費差距正在收窄;預期下半年移動服務收入按年持平。
該行指,工業數字化業務繼續快速增長,收入增幅介乎18%至32%,但預期將拖累EBITDA利潤率表現,預測今年全年資本開支將上升4%,但當中5G投入會輕微減少,並於2023至2024年持續下跌。
麥格理維持對三大電訊商的「跑贏大市」評級,中國移動(00941.HK)目標價由63.1元下調至58.92元,中國電信(00728.HK)目標價由3.63元降至3.36元,而中國聯通(00762.HK)的目標價亦由5.65元降至5.37元。
對於中國鐵塔(00788.HK),麥格理亦維持「跑輸大市」評級,目標價由0.69元下調至0.67元。
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