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《大行報告》大摩下調香港寬頻(01310.HK)目標價至3.5元 近期壓力已合理反映
阿思達克 09-26 10:20
摩根士丹利發表報告指,香港寬頻(01310.HK)2023財政年度下半年,仍然面對EBITDA增長放緩、利息成本增加的壓力,每股派息只會持平,相信管理層策略方向正確,但成效需要時間實現,維持「與大市同步」評級,目標價由4元下調至3.5元,相信近期壓力已合理反映。 管理層目標是住宅業務保持平穩,該行估計競爭環境較為穩定,每月每戶平均收入緩慢復甦,但原有合約較長期、客戶流失風險下,相信復甦的影響需時實現,因此估計下半年度住宅寬頻每月每戶平均收入,大致維持不變,至2024年度進入溫和增長的軌道。 商業用戶方面,該行指,在宏觀經濟疲弱、資訊科技開支處於緩慢周期下,並不預期下半年商業收入較上半年重拾增長。
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