[ET Net News Agency, 14 August 2020] DBS Group Research lowered its target price for
China Tower (00788) to HK$2.5 from HK$2.7 and maintained its "buy" rating.
The research house said China Tower's net profit increased by 17% to Rmb2,978m, thanks
to the high operating leverage. Going forward, DBS forecast tower business revenue growth
to accelerate from 1.6% in 1H to 3.8% in 2H as construction activities have resumed in 2Q
to accelerate 5G network buildouts.
It expects the time lag from delivery of new 5G base stations to leasing commencements
to shorten. In 1H, the company has completed 215k 5G base stations while telecom operators
target to build 500k+ 5G base stations in 2020.
DBS forecast 2020-22 EBITDA and net profit to grow at CAGRs of 7% and 23% respectively.
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Super Quote | Detail Quote | Interactive Chart | Transaction | Related News | Related Securities | Company Information | Dividend Records | Short Sell
00788 CHINA TOWER
Nominal 
0.900 0.000 (0.000%) Research Report
14/08/2020 12:15
{I-bank focus}DBS lowers China Tower (00788) to HK$2.5
| Remark: | Real time quote last updated: 24/04/2024 17:59 |
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