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研報掘金丨長江證券:招商公路盈利有望穩健增長,維持“買入”評級
格隆匯 04-08 15:10
長江證券研報指出,招商公路(001965.SZ)24年實現歸屬淨利潤53.2億元,同比下滑21.35%,其中Q4實現歸屬淨利潤11.6億元,同比下降51.7%。收併購拉動收入同比高增,輔業經營有所承壓。攻守兼備的頭部高速公路企業。公司是攻守兼備的頭部高速公路運營企業,依託招商局背景在全國範圍收購優質路產,長期成長驅動力強。同時,公司路產年限年輕,並依託主業佈局高速公路全產業鏈,內生增長動力充足。伴隨車流量回升,公司盈利有望穩健增長。此外,公司延續高分紅政策,發佈分紅承諾,25年業績對應股息率爲3.7%,維持“買入”評級。
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