中金:明年建材股首推海螺水泥 亦看好中建材及信義玻璃等
中金髮表報告,指觀察到水泥、玻璃市場需求出現明顯回落,但全國水泥、玻璃價格仍堅挺,同時庫位整體在低位,超預期,看好明年節後開春行情及2020年建材板塊多個細分領域投資機會。除水泥優質區域龍頭外,也繼續建議關注受益於竣工修復的後週期建材和受益B端精裝紅利的消費建材龍頭,首推海螺水泥(00914.HK)、北新建材(000786.SZ)及東方雨虹(002271.SZ)。
該行指,水泥股出貨現季節性回落,低庫存支撐價格;鋼鐵業淡季庫存繼續上升,螺紋價格下滑明顯;玻璃價格淡季不淡,看好2020年景氣上行。

中金稱,看好2020年建材板塊多個細分領域投資機會,包括早週期建材看好水泥業每噸毛利維持高水平,優質區域龍頭業績有超預期空間,首推海螺水泥的A(600585.SH)和H股,也看好冀東水泥(000401.SZ)、華潤水泥(01313.HK)、祁連山水泥(600720.SH)及中國建材(03323.HK);受益於竣工修復的後週期建材和受益B端精裝紅利的消費建材龍頭,玻璃板塊看好旗濱集團(601636.SH)、信義玻璃(00868.HK);消費建材首推東方雨虹、北新建材,並建議關注三棵樹(603737.SH)和中國聯塑(02128.HK);鋼鐵板塊建議關注寶鋼股份(600019.SH)、三鋼閩光(002110.SZ)、方大特鋼(600507.SH)、中信泰富特鋼(000708.SZ)。
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