《大行報告》匯豐研究降中國鐵塔(00788.HK)評級至「持有」 目標價下調至0.97元
匯豐研究發表報告指,中國鐵塔(00788.HK)由於新商務定價協議的影響,上半年鐵塔業務收入按年下降2.9%。電信公司的5G資本支出或會繼續下降。室內分布系統(DAS)增長強勁,達到24.4%,但該行認為這個增長或會開始放緩,因為集團業務範圍已經覆蓋地鐵、建築物和鐵路隧道中的多個交通熱點。另外,集團的鐵塔智聯技術及能源業務穩定,但仍僅佔總收入的11.5%。
該行表示,由於集團前景較弱於預期,將其2023及24年的EBITDA預測分別下調2.2%和1.1%,目標價相應由1.1元下調至0.97元,評級由「買入」降至「持有」。
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