Core Viewpoint - UBS has raised the target price for Hong Kong Telecom-SS (06823) to HKD 13.4, reflecting a stable operational performance with EBITDA meeting market expectations [1] Financial Performance - Hong Kong Telecom's EBITDA for the first half of the year increased by approximately 3% year-on-year to HKD 6.4 billion, aligning with market expectations [1] - Despite stable operational performance, net profit appears to be below market expectations, potentially due to higher-than-expected interest expenses [1] Revenue Forecast - UBS has adjusted the revenue forecast for fixed-line business (TSS) for 2025 to 2027 upwards by 2% to 3%, contributing to an overall revenue forecast increase of 1% to 2% for the period [1] Target Price Adjustment - The target price for Hong Kong Telecom has been slightly increased by about 3%, from HKD 13 to HKD 13.4, while maintaining a "Buy" rating [1]
瑞银:升香港电讯-SS(06823)目标价至13.4港元 中期EBITDA符预期