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《大行报告》大摩首予中兴(00763.HK)「增持」评级目标价上望26元
阿思达克 06-20 10:48

摩根士丹利发表大中华科技硬件行业报告,料贸易战会影响本土采购活动,该行首予中兴通讯(00763.HK)「增持」投资评级及目标价26元,此相当於预测今明两年市盈率各24倍及22倍。

该行指,华为及中兴向内地三大电讯商提供网络设备,具稳定市占有率,领先其他供应商包括爱立信及诺基亚,虽然基站步伐仍未明朗,但该行估计中兴可在推动5G初期享有较高的定价能力,可受惠於中国5G资本开支周期;该行估计内地5G基站在投资初期的价格,将会高於4G基站价格30至40%,可为中兴带来更高毛利。

大摩估计,中兴於2019年至2021年每股盈利预测各为1.07、1.48及1.7元人民币,料2019年至2021年经调整纯利预测分别为36.02亿、40.07亿及50.87亿人民币,料2019年至2021年毛利率预测各为35.20%、36%及36.1%。

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