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《大行報告》野村升中國鐵塔(00788.HK)目標價至0.96元 5G投資緩慢導致增長仍弱
阿思達克 03-19 11:27
野村發表研究報告,維持對中國鐵塔(00788.HK)的「中性」評級,但目標價從0.86元提升至0.96元。該行指出5G投資放緩,導致公司增長仍然疲弱,去年收入按年增長2%,盈利增長11%,分別較該行預測低0.4%及1%。期內EBITIDA增長1.1%,符合預期。 管理層解釋,去年塔類服務收入按年下降2.8%,主要是受2022年底與三大電訊營運商簽訂的新五年商務定價協議所拖累,可比口徑計算該業務收入實際按年增長2%。野村認為,由於電訊商5G投資放緩,預期塔類業務增長今年仍將面臨阻力,同時新興業務尚未完全實現健康盈利能力。
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