研報掘金丨華創證券:維持五糧液“強推”評級,目標價215元
華創證券研報指出,年內看,五糧液(000858.SZ)通過全面改革,有效平衡了普五批價和報表增長確定性,而中長期看,公司在千元價格帶地位及優勢不變,實際動銷好於同業,若改革成功,則有望成功拓展新渠道、新市場,持續鞏固千元龍頭地位、擴大經營優勢。若改革持續順利落地,五糧液經營持續改善,必然將帶來估值折價明顯修復,此外公司股息率4%以上對中長線價值資金吸引力較大。維持公司24-26年EPS預測8.54/9.15/9.92元,維持目標價215元,對應25年約23倍PE,維持“強推”評級。
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