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《大行報告》瑞信:聯通(00762.HK)季績大致符預期 維持「跑贏大市」看5元
瑞信發表評級報告指,中國聯通(00762.HK)第三季業績表現大致符預期,服務收入按年增6.7%、收入按年增9.2%、EBITDA按年跌2%;受惠折舊及攤銷開支較少,純利則按年增25.4%,並較該行預測高出4.1%,增長軌跡勝於市場全年預測。 該行指,聯通流動業務平均每月每戶收入(ARPU)增長持平,即使有中國廣電加入市場,該行相信會出現良性競爭的格局,除非政策發生變化,否則預料這會延續至第四季及明年,該行估算聯通第三季恢復流動用戶客量淨增長,惟未能達全年增1,200萬的目標。 瑞信表示,維持其目標價5元,以及其評級為「跑贏大市」。該行選股優先次序依次為中電信(00728.HK)、隨後為中移動(00941.HK),最後為聯通。
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