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研報掘金丨華金證券:維持貴州茅台“買入-A”建議,分紅規劃提振信心
格隆匯 08-13 15:36

華金證券研報指出,貴州茅台(600519.SH)業績略超市場預期,分紅規劃提振信心。上半年歸母淨利潤416.96 億元,同比+15.88%;Q2實現歸母淨利潤176.30 億元,同比+16.10%。短期看,公司制定15%的業績目標,24H1超額完成上半年任務目標,以及公司發佈24-26年未來三年分紅規劃超市場預期。中期看,根據上輪週期經驗,本輪白酒週期調整已過半,當下處於戰略改變執行階段,高端白酒具有佈局性價比。此外,茅台半年度市場工作會議展現了公司審時度勢的市場策略,以消費者即市場為中心,有望成功穿越本輪週期。維持公司“買入-A”建議。

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