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《大行報告》瑞銀下調中移動(00941.HK)目標價至80元重申行業首選 降聯通(00762.HK)目標價至3.6元
瑞銀發表研究報告指,預計今年第三季的固網服務收入將按年保持強勁增長16%,料第三季行業服務總收入增長保持在7.1%。該行料季內中移動(00941.HK)的服務收入按年增長7.4%;EBITDA增長7.3%;純利增長8%。在數字化收入增長的推動下,預計中移動將繼續跑贏同行。而中國電信(00728.HK)及聯通(00762.HK)的服務收入則分別增6.8%和6.7%;EBITDA分別錄正增長2.3%及負增長1.9%;而純利則分別增11%及21%。 至於上游服務及設備供應商,該行估計,中興通訊(00763.HK)在電信公司、政府或國有企業對5G和工業數字化的持續投資的推動下,第三季收入按年增長15%,毛利率料保持在37%。另外,預期中國鐵塔(00788.HK)第三季收入增長6%,純利增19%。 該行重申中移動為行業首選,目標價由84元下調至80元,中興目標價由28元降至26元,均籲「買入」;而聯通目標價由4元降至3.6元,評級為「中性」。 股份│評級│目標價 中移動(00941.HK)│買入│84→80元 中國電信(00728.HK)│買入│4.4元 中興通訊(00763.HK)│買入│28→26元 中通服(00552.HK)│買入│5.0元 聯通(00762.HK)│中性│4.0→3.6元 中國鐵塔(00788.HK)│中性│1.05元
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