《大行報告》大摩:香港電訊-SS(06823.HK)重評利好因素已出現 評級「增持」
摩根士丹利發表報告指,憧憬美國潛在進入減息周期,相信市場情緒將有所改善,香港電訊-SS(06823.HK)重評利好因素已出現。
報告指出,香港電訊的估值受到市場對利率擔憂的負面影響,今年股價受壓,股息回報率已由年初的7%升至11月的約9.5%歷史高位,同時公司穩健的基本面正在進一步改善,因此重申「增持」評級,目標價維持10.5元。
大摩預測,受惠於寬頻市場競爭格局改善,行業定價能力提升,5G滲透率持續增長,5G投資高峰過去後資本開支回落,以及利息成本下降,今明兩年香港電訊經調整資金流將表現穩健,股息增長率料達到3%及4.8%。
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