研報掘金丨中金:首予杭氧股份“跑贏行業”評級,目標價35元
中金公司研報指出,杭氧股份(002430.SZ)為國產空分設備龍頭企業,產品技術和客户資源業內領先,平台、規模優勢明顯,給予公司2024e 23x目標P/E,對應目標價35元,較當前股價有30%升幅空間。杭氧股份目前股價對應2024/2025年市盈率為17.7x/14.3x,首次覆蓋給予“跑贏行業”評級。覆盤國際氣體龍頭林德集團的成長軌跡,我們認為強平台拓品類和持續併購整合為氣體企業做大做強的重要路徑。較外資同行,公司在技術服務上具備更強的響應速度和保供能力;較內資同行,公司在設備市場佔有率較高,項目經驗豐富,轉型氣體服務有客户資源優勢。
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