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大行評級|小摩:中國鐵塔次季業績穩健惟不太可能帶動持續性反彈 維持“中性”評級
格隆匯 08-08 10:37

摩根大通發表報吿指,對中國鐵塔維持“中性”評級,認為只有中資電訊企業進入資本支出上揚趨勢,才能帶動公司持續的收入和盈利加速增長,屆時鐵塔才可獲估值重評。

摩通指,中國鐵塔第二季財務狀況改善,但對該股仍保持審慎,並不預期第二季業績會帶動該股獲大幅重評或持續性反彈。因為在電訊公司持續削減資本開支的情況下,收入增長不大可能出現結構性加速。另外,摩通指,市場已對中國鐵塔折舊完成後即將出現的損益節省進行定價。同時認為市場對中國鐵塔近期的財務狀況過分樂觀,預計市場對其2024和2025財年盈利預測分別有3%和5%下行空間。

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