廣發證券:大幅上調貴州茅台目標價至1506元
格隆匯4月22日丨貴州茅台發佈2019年年報,營收為854.30億元,同比增長16.01%;淨利潤為412.06億元,同比增長17.05%;擬對公司全體股東每10股派發現金紅利170.25元(含税)。廣發證券王永鋒團隊點評稱,茅台量價齊升推動收入保持穩健增長,新冠疫情對公司影響僅停留在批價層面,2020年10%收入目標有望超額實現,明年收入增長還將加速。長期來看,民間消費佔比提升茅台週期屬性弱化,加大直營渠道佈局也有助於未來管控批價和終端成交價能力提升,將公司目標價由1300元大幅上調至1506元。
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