華泰證券:柳工業績持續回升 維持“買入”評級
格隆匯1月2日丨華泰證券指出,2020年工程機械行業有望平穩發展,或將得益於基建温和回升以及地產保持韌性。柳工業績持續回升,挖掘機與裝載機實現較快增長,大噸位及高端產品佔比提升,主要產品市佔率仍有上升空間。公司經營穩健,現金流充裕,資產質量健康。預計19-21年EPS為0.69/0.82/0.92元,PE為10.1/8.5/7.6x。競爭力提升有望帶來估值修復,給予公司2020年PE估值9.5x~10.5x,對應目標價7.74~8.56元,維持“買入”評級。
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