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研報掘金丨國信證券:五糧液長期穩健發展,強調“優於大市”評級
國信證券研報指出,2024上半年經營節奏良好,預計五糧液(000858.SZ)核心產品動銷實現雙位數增長;公司產品規劃進一步清晰,長期增長抓手明確,主品牌持續豐富完善“1+3”產品矩陣,經典五糧液創新運營模式,長期有望貢獻噸價增長;渠道建設縱深推進,持續提升經銷商盈利能力,並加快對直營渠道和新興渠道的良性建設。考慮到公司市場節奏良好,產品規劃清晰,廠商關係向好,看好公司長期穩健發展,維持此前盈利預測,預計2024-2026年EPS為8.72/9.70/10.87元,當前股價對應PE 14.7/13.2/11.8x,強調“優於大市”評級。
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