研報掘金丨中郵證券:九州通有望迎來估值重塑,維持“買入”評級
中郵證券研報指出,九州通(600998.SH)批發業務穩增長的同時,“三新兩化”戰略有序推進,REITs擬發行將加快資金週轉,高毛利業務獲資金助力有望提速,公司有望迎來估值重塑。假設2024年Pre-REITs完成發行,2025年公募REITs完成發行,且不考慮後續新增REITs項目貢獻,預計2024~2026年公司歸母淨利潤分別為29.61、29.69、30.45億元,當前股價對應PE 分別為9.35、9.32、9.09倍,考慮到公司REITs項目擴募性強,2025-2026年業績有望超預期,維持“買入”評級。
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