研報掘金丨海通證券:首予宇通客車“優於大市”評級,新能源客車領先地位穩固
海通證券研報指出,宇通客車(600066.SH)是客車行業龍頭。公司2023年累計實現客車銷售36518輛,同比提升20.93%;其中海外銷量1.02 萬台,同比大增79%。根據宇通客車2023年報,公司海外銷售已覆蓋歐洲、獨聯體、美洲、非洲、亞太、中東等六大區域。目前,公司已形成產業成果轉化反哺技術創新的良性循環。另外,宇通新能源客車領先地位穩固,佈局培育精益達、科林等核心零部件企業,充分發揮國內產業鏈集羣優勢。考慮到公司為行業龍頭,確定性較強,參考可比公司,給予公司2024年21-23倍PE,合理價值區間27.23-29.83元。首次覆蓋,給予“優於大市”評級。
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