大行評級 | 摩通:鐵塔股息率較三大電訊股遜色 目標價0.8港元
格隆匯3月3日丨摩通發研報指,看好中國鐵塔(0788.HK)的“雙翼業務”增長,但憂慮其塔類業務低迷以及EBITDA持續受壓,認為該股短期內並無刺激因素,偏好於電訊營運商,認為其約7釐的股息率較鐵塔的4釐較具吸引力。報吿維持“中性”評級,目標價0.8港元。報吿指,鐵塔在2022年錄資本開支260億元(人民幣.下同),較原先指引的300億元為低,今年資本開支目標為320億元,以支持“雙翼業務”發展、5G網絡佈局以及更換到齡資產。集團宣派未期息每股3.232分,股息率約4釐,派息比率由前兩年的68%和70%進一步提高至72%。集團表明,並無股份回購或A股上市計劃,正準備將能源業務分拆但現階段沒有時間表。該股現報0.89港元,總市值1566億港元。

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