《大行報告》摩通:中電信(00728.HK)為行業首選 上調目標價至5元
摩根大通發表報告指,內地電訊股股價自去年11月以來已飆升23%至82%,原因是投資者對其高增長的雲業務、股息增長前景和潛在AI敞口等的興趣增加。該行認為,即使是升浪後,行業估值仍然具有吸引力,相當於企業價值對EBITDA不足兩倍,料2022至24財年的平均收益率為7%,每股派息複合年增長率為15%。
該行料內地電訊股在3月業績期仍有上升空間,因為雲分拆時間表和電信AI業務的可見度更高,以及中移動(00941.HK)及中電信(00728.HK)今年後派息比率有望進一步增加。
該行將中電信及聯通(00762.HK)的目標價分別由4.5元及5.8元,上調至分別5元及6.7元,續列中電信為行業首選,其次為中移動,最後為聯通。
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