研報掘金丨華創證券:維持山西汾酒“強推”評級,目標價285元
華創證券研報指出,山西汾酒(600809.SH)經營質量處同業較優水位,庫存/批價/回款指標保持良性,若後續需求好轉,公司有望輕裝上陣、恢復彈性增長。24年公司分紅率提升至60%、後續有望持續提升,測算25年股息率3.5%,對長線資金吸引力有望增強。結合最新運營情況,維持25-27年EPS預測值10.79/11.83/13.20元,維持目標價285元,維持“強推”評級。
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