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研報掘金丨招商證券:宇通客車兼具高股息和高成長雙重亮點,維持“強烈推薦”評級
招商證券研報指出,宇通客車(600066.SH)預吿23年歸母淨利潤為14~19億元,利潤中樞為16.5億元,對應Q4業績約為6 億元。此次宇通客車的經營上行,包括了海外市場拓展帶來的增長、國內客車市場的恢復上行以及電池成本下降等因素共振。海外市場拓展的成長性將遠高於國內市場修復性增長。公司22年分紅為22.14億元,23年經營情況好於22年,如果分紅額度延續,目前股息率為7.5%。公司同時兼具高股息和高成長雙重亮點,非常難得。上調23年~25年公司的歸母淨利潤為16.7億、26.1億和30.6億元,維持“強烈推薦”評級。
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