《大行報告》匯豐研究下調香港寬頻(01310.HK)目標價至9.2元 評級「買入」
匯豐研究發表研報指,考慮到住宅服務市場飽和,認爲香港寬頻(01310.HK)近年收購WTT及JOS合理,但收購以來未見太大增長,其中JOS收購後出現疫情,導致企業支出大範圍凍結,重組計劃被推遲。
該行指,企業服務是香港寬頻更大的業務發展方向,但迄今爲止很難打入該市場,將持續關注企業服務於下半年業績的表現。
家用服務方面,該行指出價格壓力持續存在。不過,客戶因爲在家工作及學習,需要提提升網絡速度;加上公司與和電合作推出新5G流動計劃,料可以抵銷相關影響。預計該業務收入及EBITDA將保持穩定。
匯豐研究將香港寬頻目標價下調9.2元(原本12.3元),以反映JOS出售新加坡及馬來西亞業務的相關影響,維持「買入」評級,預測下半財年服務收入將下降10%,EBITDA料跌2.9%。
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