一文了解大行於中電信(00728.HK)公布季績後最新目標價及觀點
中電信(00728.HK)公布今年首季業績後,今早股價偏好,盤中曾高見4.46元一度上揚2.8%,最新報4.38元升0.7%。摩根大通表示,中電信首季服務收入及EBITDA按年各升8%及5%,核心盈利增長放慢至10.5%,主要受利息支出較高所影響,但中電信旗下產業數字化業務並無如同業般放慢,料季績對股價影響輕微正面。該行重申對中電信「增持」評級及目標價5元,指明年預測股息回報達7厘,料其未來數年的每股派息複合增長率可高於10%水平。
中電信昨收市後公布首季度業績,經營收入1,305.88億人民幣按年上升9.2%。其中,服務收入1,184.78億人民幣上升7.7%;錄得純利79.84億人民幣增長10.5%,每股收益9分。EBITDA增長4.7%至338.74億人民幣,EBITDA率28.6%。季內,移動通信服務收入505.91億人民幣增長3.2%;移動用戶ARPU錄45.8元人民幣。
中電信指產業數字化方面,持續提升算力水平,以融雲、融AI、融安全、融平台為驅動,提供滿足行業客戶需求的綜合智能信息化服務,發揮天翼雲的市場競爭力,持續打造「5G+行業應用」標桿項目,推 動第二增長曲線快速發展。公司2023年首季度產業數字化業務收入達到349.71億人民幣,按年增長18.9%。
【首季業績符預期 數字化業務穩固】
摩根士丹利發表報告指,中電信今年首季服務收入按年增7.7%;EBITDA增4.7%;淨利潤增10.5%,業績大致符合預期。該行指﹐中電信旗下工業數字化收入保持強勁,增長18.9%(對比去年增長19%)。該行表示,中電信有望在2023財年達到利潤增長雙位數的指引,維持對其「增持」評級,目標價5元。該行料中電信今明兩年股息回報各為6.4厘及7.2厘。
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本網最新綜合5間券商對其投資評級及目標價:
券商│投資評級│目標價(港元)
富瑞│買入│6元
瑞銀│買入│5.6元
摩根士丹利│增持│5元
摩根大通│增持│5元
花旗│買入│4.62元
券商│觀點
富瑞│首季業績輕微低於該行預期,估值吸引仍為首選
瑞銀│首季工業數字化服務收入增速因高基數放緩,對可持續性保持樂觀
摩根士丹利│季績大致符預期,今年利潤有望實現指引兩位數增長目標
摩根大通│季績穩定,工業數字化服務收入增長良好
花旗│首季收益符預期,料增長勢頭持續實現年內目標
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