智通财经APP获悉，晨星发布研报称，上调长江基建集团(01038)公允价值3%至65港元,受惠于盈利预期微增。该股目前被低估，预测市盈率15倍及股息率4.8%，中期前景稳健。
晨星表示,未来五年每股盈利复合年增长6.3%，原因是受监管的回报率将提高，以反映自上一轮调整以来资本成本的显著上升。允许的回报率通常每五年调整一次，高于政府债券收益率，而政府债券收益率自疫情以来已大幅上涨。晨星预测，未来五年每股股息复合年增长率3%，该行预期管理层将控制股息增长，从而使派息比率降至70%以下。
鉴于受监管公用事业的前景越来越好，回报率升高，该行将中期每股盈利预测平均上调2.4%。
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