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研報掘金丨中郵證券:牧原股份業績符合預期,維持“買入”評級
格隆匯 03-21 14:36

中郵證券研報指出,牧原股份(002714.SZ)24年歸母淨利潤178.81億元,同比增長519.42%。公司業績符合預期,成本下降明顯,財務結構進一步優化。公司25年的成本目標是12元/KG,相較於當前豬價,仍有很大盈利空間。公司成本穩居行業第一梯隊,預計24年公司頭均盈利達255 元。25年生豬價格下滑趨勢確定,但公司成本優勢明顯且還有進一步下降空間,預計25年公司仍可獲得可觀利潤。預計公司2025-2027年EPS分別爲3.09元、3.96元和5.79元,當前股價對應的PE分別爲12X、10X、7X。看好公司競爭力,維持“買入”評級。

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