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Major Bank Ratings | Morgan Stanley: Upgraded CHINA TOWER rating to "Shareholding" with stronger growth prospects.
Morgan Stanley published a research report stating that although there are still uncertainties regarding interest rates and the macro environment, it remains Bullish on mainland telecom operators maintaining dividends. It also expects the Industry to benefit from reduced capital expenditure after the 5G cycle and potential improvements in operating capital conditions. Compared to telecom operators, Morgan Stanley is more Bullish on the development of Datacenter and tower companies in the Chinese market. The current preference ranking for the three major telecom operators by Morgan Stanley is CHINA TELECOM, China United Network Communications, and CHINA MOBILE, all rated with 'Shareholding'. Morgan Stanley believes that CHINA TOWER's growth prospects are more resilient, with a compound annual growth rate of 30.3% in per share dividends from 2023 to 2026.
Morgan Stanley: Among the three major telecom operators, the preference is for CHINA TELECOM (00728). CHINA TOWER (00788) rating is upgraded to "Shareholding."
Morgan Stanley predicts that the service revenue growth rate of the telecommunications Industry in mainland China will slightly rise to 3.2% this year, compared to 2.7% in 2024.
Hong Kong stocks fluctuation | CHINA TOWER (00788) rose nearly 3% intraday, the company expects that its telecom tower Business revenue will remain stable by 2025.
CHINA TOWER (00788) rose nearly 3% during the trading session. As of the time of writing, it increased by 2.75%, reporting at 1.12 Hong Kong dollars, with a trading volume of 77.8481 million Hong Kong dollars.
[Brokerage Focus] Goldman Sachs gives CHINA TOWER (00788) a "Neutral" rating, with the company expecting single-digit revenue growth in 2025.
Jinwu Financial News | Goldman Sachs recently published a Research Report analyzing the situation of CHINA TOWER (00788) in terms of performance, capital expenditure, depreciation, and capital allocation. CHINA TOWER is expected to achieve stable revenue growth in the mid-single digits by 2025, with Net income growth maintaining in the low double digits. This is primarily due to cost control and reduced depreciation. As the construction of 5G base stations progresses, the company expects the telecom tower business revenue to remain stable by 2025, while the indoor site business is likely to achieve stronger growth due to the emphasis placed by telecom operators on indoor coverage. At the same time, capital expenditure is expected to stabilize around 30 billion yuan, compared to 20.
While Public Companies Own 21% of China Tower Corporation Limited (HKG:788), Private Companies Are Its Largest Shareholders With 53% Ownership
[Brokerage Focus] UBS Group gives CHINA TOWER (00788) a "Neutral" rating, stating that it occupies an important position in the telecommunications infrastructure sector.
Golden Wo Financial News | UBS Group released a Research Report indicating that CHINA TOWER (00788), as a state-owned enterprise, has occupied an important position in the communication infrastructure field since its establishment in 2014. Its main Business includes the construction, leasing, and maintenance of telecommunications towers and related infrastructure, with a market share as high as 96% by the end of 2018. In terms of past performance, revenues from 2021 to 2023 were 86.585 billion yuan, 92.17 billion yuan, and 94.009 billion yuan respectively, with expected revenues of 97.152 billion yuan in 2024, 101.594 billion yuan in 2025, and 105.1 billion yuan in 2026.
