研報掘金丨西部證券:首予深高速“增持”評級,目標價12.55元
西部證券研報指出,深高速(600548.SH)2024業績預告發布後,市場對公司業務未來發展持有較爲悲觀的預期。該行認爲公司主營業務未來增長向好。①受益於深中通道對公司沿江項目和機荷項目的引流作用,疊加宏觀經濟復甦、粵港澳大灣區政策支持,公司公路業務有望穩健增長;②大環保業務有望步入收穫期,清潔能源發電項目、餐廚垃圾處理兩項業務均具備一定的進入壁壘,經過近10年的探索發展,有望邁入收穫期。認爲公司作爲華南地區公路元老,公路主業的收益質量較高,有望實現穩健增長。大環保業務前景向好,清潔能源發電、固廢資源化處理業務未來盈利可期。絕對估值法(DDM 估值)下計算的目標價爲12.55元,首次覆蓋,給予“增持”評級。
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