研報掘金丨中金:維持大秦鐵路“跑贏行業”評級,上調目標價至8元
中金公司研報指出,認為大秦鐵路(601006.SH)價值凸顯:1)大秦鐵路基本面有望企穩改善(煤炭資源網數據顯示12月份大秦線運量同比轉正);2)轉債壓制股價或接近尾聲;3)橫向對比,預計大秦鐵路2024/25 年股息率為4.0%/4.7%,高於交運板塊紅利資產(2025年股息率平均為3.8%)。預計2024/25年大秦線運量為3.92/4.21億噸,今年恢復到大秦歷史平均水平。另外,截至2024年末公司可轉債餘額約77億元,2024年可轉債轉股約187億元,認為公司可轉債強贖後資金面壓力或減輕。維持“跑贏行業”評級,上調目標價9.6%至8.00元。
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