研報掘金丨中泰證券:看好晨光生物淨利率穩步提升,維持“買入”評級
中泰證券研報指出,品類擴張+成本優勢明顯,看好晨光生物(300138.SZ)淨利率穩步提升。看好公司的主要原因是:一是領先的提取技術+較強的原材料掌控力,成本優勢明顯;二是世界第一品類逐漸增多,隨着市佔率提升,品類議價權不斷增強驅動淨利率提升;三是發力營養保健、工業大麻提取可期,空間大利潤率高,未來利潤增速有望更快。根據公司半年報,考慮到需求和成本端壓力,下調盈利預測,對應PE為 15.3 倍、12.7 倍、10.4 倍,維持“買入”評級。
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