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研報掘金丨國信證券:維持海康威視“優於大市”評級,合理目標價為36-40元

國信證券研報指出,隨着視頻監控進入智能化階段,海康威視(002415.SZ)開啟了智能物聯轉型。從建立雲邊融合三層計算架構到產品端(兩池一庫四平台)與業務端(PBG/EBG/SMBG事業羣)整合,結合感知、大模型與大數據等技術投入,23年智能物聯轉型初步完成,EBG企業事業羣收入佔比超過PBG公共服務事業羣達20%,成為增長主要動能。圍繞智能化要素,公司智能物聯架構與落地能力鑄就核心競爭力。該行看好公司的經營韌性與行業智能化帶來的長期增長動能,通過相對估值,預計公司合理目標價為36-40元,相對目前股價有21%-33%溢價空間,維持“優於大市”評級。

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