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研報掘金丨廣發證券:予北方導航“增持”評級,目標價12.62元
格隆匯 01-13 16:36

廣發證券研報指出,北方導航(600435.SH)為國內領先的導航控制和彈藥信息化技術供應商之一,國防現代化建設空間廣闊,考慮產品高效費比優勢、實戰化演練加大消耗以及潛在軍貿空間,公司核心主業增長彈性空間相對較大。公司近年積極推進生產線智能化升級,效率提升疊加產品結構改善,我們看好公司盈利能力穩中向好的潛力。考慮公司當前在國內導航控制、制導控制領域領先技術優勢,以及長期配套地位和相對充足的供給能力,基於國防現代化建設廣闊前景,結合同業可比公司估值水平,認為適合給予公司25年60倍的PE估值,對應合理價值12.62元/股,給予“增持”評級。

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