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研報掘金丨德邦證券:陽光電源全球營銷、渠道及服務網絡優勢明顯,維持“買入”評級
格隆匯 11-05 14:54

德邦證券研報指出,陽光電源(300274.SZ)全球營銷、服務及供應鏈優勢明顯,前三季度毛利率與去年同期相比持平。截止24年中報,公司海外的印度生產基地和泰國工廠產能已達25GW,已在海外建設了超20家分支機構,全球五大服務區域,超490家服務網點和數百家重要的渠道合作伙伴,產品已批量銷往全球170多個國家和地區,公司全球營銷、服務及供應鏈優勢明顯。儲能系統廣泛應用在歐洲、美洲、中東、亞太等成熟電力市場,不斷強化風光儲深度融合。公司作為光伏儲能和逆變器龍頭企業,品牌優勢明顯,研發創新實力領先,全球營銷、渠道及服務網絡優勢明顯,預計公司2024-2026年歸母淨利潤為110.92/129.91/147.76億元,當前股價對應PE為16.66/14.23/12.51X ,維持“買入”評級。

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