智通财经APP获悉，电信股逆市走高，截至发稿，中国联通(00762)涨3.15%，报9.51港元；中国移动(00941)涨1.95%，报88.4港元；中国电信(00728)涨1.58%，报5.78港元。
消息面上，近日，工信部发布2025年前4个月通信业经济运行情况。前4个月我国通信业运行稳中有升，电信业务收入累计完成5985亿元，同比增长1％。得益于今年DOU逐月加速增长，且4月DOU增速（同比增长14.6%）创下2024年以来单月新高，4月电信业务收入回暖（当月1,516亿元，同比增长2.0%）。
高盛发布研报称，电信运营商的股息收益率越发具有吸引力。该行预计中国电信运营商将保持充沛的自由现金流，以支持长期可持续的股息增长；2025-2027年，三大电信运营商将有能力把当期净利润全部用于派息，而且电信运营商的指引也表明派息率将逐年提高。因此，该行认为股息贴现模型适用于评估电信运营商股的长期估值。该行基于最新的每股股息和无风险利率预测进行的分析表明，电信运营商股的当前股价还有19%-32%的上行空间。
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