大行評級丨高盛:下調中國聯通H股目標價至10港元 下調EBITDA及淨利潤預測
高盛發表報告指,中國聯通首季除息稅折舊攤銷前溢利(EBITDA)266億元,大致符合該行預期。淨利潤56億元,低於該行預期7%,主要基於低於預期的非經營收益及高於預期的折舊開支。期內雲業務收入按年升18%至197億元,IDC收入按年升8.8%至72億元。
該行下調對公司EBITDA利潤率預測,並下調對公司今年至2027年EBITDA及淨利潤預測分別最多1.6%及最多6%,對聯通H股目標價由10.5港元降至10港元,爲2026年企業價值倍數(EV/EBITDA)2.5倍,低於原來目標的2.6倍,維持“買入”評級。
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