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《大行報告》富瑞升中國鐵塔(00788.HK)評級至「買入」 上調目標價至1.21元
富瑞發表研究報告指,中國鐵塔(00788.HK)第一季收入及EBITDA按年分別增2.5%及2.7%,符合預期;淨利潤增15%,較該行預測高出5%。鐵塔收入按年下降3%,符合預期。EBITDA利潤率按年升0.2個百分點,原因是員工成本持平且營運成本下降。 該行提高了對集團的EBITDA及淨利潤預測,惟對其2023至25財年的EBITDA預測仍比市場預期低出2%至6%,而淨利潤預測則比市場預期高出4%至15%以上。目標價由0.99元上調至1.21元,評級由「持有」升至「買入」,惟仍然更偏好電訊公司和中國通信服務(00552.HK)。
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