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《大行報告》星展削中興(00763.HK)目標價至19.8元 評級「買入」
阿思達克 02-08 10:05
星展發表研究報告指,中興通訊(00763.HK)目前為中國第二大電訊設備供應商,在內地電訊設備市場佔據約20%份額,其營運商網絡業務持續增長,雖然電訊商在移動網絡方面的資本開支已見頂,但仍預期可受惠於行業數字化轉型發展,未來將保持約7%的按年增長率。 星展又估計,中興的市佔額將提升,由於電訊商正加強於計算能力的投入,今年算力相關投資預計將增長約30%,有利於中興相關產品的銷售,維持其H股「買入」評級,惟下調H股估值基礎,由預測今年市盈率15倍降至8倍,H股目標價相應由37.3元削至19.8元。該行將中興通訊2023年盈利預測下調1%,主要因期內企業及消費者業務收入預測被下調。
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