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《大行報告》瑞信升中移動(00941.HK)目標價至85元 料明年股息回報達8厘
阿思達克 10-08 10:20
瑞信發表報告,中移動(00941.HK)5G用戶自今年2月持續上升,客戶由4G轉移到5G為每用戶平均收入(ARPU)帶來10%增長,該行將中移動目標價由79.5元上調至85元,此按現金流折現率作估值,相當於預測2022年企業價值對EBITDA的3.1倍及市盈率12.2倍,指公司持有巨額淨現金,兼且預測股息回報比率達8厘,維持對其「跑贏大市」評級。 該行預期,中移動明年以後的資本開支將下降,中移動預期在今年底前完成A股上市,將成為股價主要推動力。 瑞信料中移動有機會因此增加派息比率,即使目前預計派息率維持不變,股息率在明年至後年也有8厘至9厘。該行預計中移動今年收入可按年增長11%。
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