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《大行報告》匯豐研究降中興(00763.HK)目標價至16.9元 下跌風險有限評級「買入」
阿思達克 02-08 10:42
匯豐研究發表報告指,中興通訊(00763.HK)受惠電訊服務商資本開支前景穩定,是在市場存在高度不確定性時的防守型企業。該行指出,中興通訊H股股價自去年7月起累跌57%,對比同期恆生指數下跌約18%,相信主要由於電訊商資本開支計劃放慢、第三季收入遜預期及設備業務海外銷售前景不明朗所致。 考慮到營運商網絡業務及消費端增長前景較預期弱,該行將中興2023至2025年每股盈利預測分別下調3%、8%及6%,2023至2025年間每股盈利年均複合增長率調整為6%。 但該行亦強調,在當前充滿挑戰的宏觀環境下,認為中興通訊仍能保持具韌性盈利能力,預計今年電信商資本支出將按年持平,並會將把更大部分的預算分配予計算能力及雲端、AI相關投資,維持中興H股「買入」評級,預期下行風險有限,目標價從27.8元降至16.9元。
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