中信證券:管控優化預期再起,修復主線配置邏輯清晰
格隆匯4月13日丨中信消費者服務指數昨日漲超8%,我們認爲主因疫情管控措施優化預期重燃,疫情修復主線應之表現。我們再次強調,疫情修復主線將貫穿全年,雖然短期疫情的影響仍在,甚至階段性加重,但疫情修復主線的投資建立在疫情影響減弱後行業的恢復彈性以及潛在的格局受益上,階段性的疫情影響並不影響邏輯方向。疫情管控影響終要減弱,價值終將回歸,疫情反覆在當下、在未來大概率仍然發生,但主線配置機會將一直明確,建議佈局。結合行業屬性、賽道格局、潛在增速和公司估值,維持休閒服務板塊推薦排序:酒店>免稅>景區>餐飲>OTA>博彩。個股推薦:中國中免、華住集團、首旅酒店、錦江酒店、海倫司、九毛九、同程藝龍、攜程、宋城演藝、中青旅。
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