研報掘金丨國泰君安:維持雙匯發展“增持”評級,上調目標價至31.7元
國泰君安研報指出,雙匯發展(000895.SZ)2024H1業績受下游市場需求偏弱影響,短期承壓,2024Q3以來實現企穩,由降轉增,逐步改善值得期待。參考可比公司平均估值給予2025 年21X PE,上調目標價至31.7元,維持“增持”評級。肉製品噸利維持高位,養殖明顯減虧。公司近年來維持高比例分紅,股息率具備吸引力,2024Q1-3經營性淨現金流達到69.1億元,截至2024Q3賬上貨幣資金及交易性金融資產合計達86.6億元,資本開支水平較低,公司作為肉製品及屠宰龍頭,經營韌性較強,逐步調整產品結構並持續開拓新渠道,價值凸顯。
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