中金:三季度的A股業績可能略低於市場預期 建議配置逐步向中下遊傾斜
格隆匯11月1日丨中金公司研報指出,三季度的A股業績可能略低於市場預期,主要在於下遊利潤的較快下滑,從上週滬深300非金融的盈利預期出現整體下修也可得到證明,與此同時上遊的煤炭、有色金屬和基礎化工等偏週期行業盈利預期近期有所上修。往前看,該行認爲隨着保供順價的政策繼續升級,上遊漲價壓力未來可能有所緩解,當前利潤分化較大的局面有望邊際改善,整體配置我們仍建議由上遊向中下遊進行切換。
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