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研報掘金丨光大證券:首予中國神華“增持”評級,煤炭業務競爭優勢突出

光大證券研報指出,中國神華(601088.SH)為煤炭上下游全產業鏈佈局的能源巨頭,煤炭業務競爭優勢突出。2024年煤炭供需仍將維持基本平衡,港口價格(5500大卡)在邊際因素(疆煤外運、長協價格)的支撐下仍將維持在800元/噸以上。在產銷量、價格、分紅比例均有保障的背景下,公司未來幾年盈利、分紅均有保障。該行認為中國神華作為綜合性的能源龍頭,具有盈利穩健、規模優勢突出、一體化運營的特點,首次覆蓋給予“增持”評級。

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