研報掘金丨國信證券:温氏股份業績表現優秀,維持“優大於市”評級
國信證券研報指出,温氏股份(300498.SZ)預計2024H1歸母淨利12.5-15億元,同比扭虧為盈。認為公司業績表現優秀,經測算,預計公司2024Q2頭均肥豬養殖盈利接近220-240元,對應生豬養殖完全成本接近14.5 元/kg,成本穩健下降。公司生豬產能儲備充裕,現有種豬場竣工產能約4600 萬頭,育肥階段有效飼養能力合計約3500萬頭,預計未來出欄有望保持穩健增長,將受益於豬價景氣回升帶來的量價齊升紅利。維持“優大於市”評級,並維持盈利預測,預計公司24-26年歸母淨利潤為75.9/158.2/120.3億元,對應當前股價PE為17/8/11X。
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