大行評級 | 瑞信:料中移動未來2年股息率至少8% 評級優於大市
格隆匯10月21日丨瑞信發研報指,中移動(0941.HK)第3季純利遜預期,由於折舊與攤銷(D&A)高於預期,但仍看好業務增長,維持“優於大市”評級及H股目標價70.9港元不變。瑞信指出,內地電訊行業競爭空間仍然良好,料中移動第3季移動APRU按年升3.2%。另外,該行相信,中移動第3季銷售開支增加,由於第2季疫下市場推廣計劃延遲,公司仍維持銷售開支下跌指引。雖然預測公司第3季D&A按年上升11%,令純利遜於預期,但仍有待公司評論後市前景。瑞信續指出,中移動業績遜預期,或帶來股息風險,但相信2022-24年股息率仍達8%-10%,仍看好業務增長。該股現報49.75港元,總市值10628億港元。

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