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研報掘金丨西部證券:海爾智家長期配置價值凸顯,維持“買入”評級
西部證券研報指出,海爾智家作爲全球家電品類引領者,品牌製造/創新研發多環節領先,份額優勢有望長期保持;此外公司眼光長遠前瞻佈局,多年持續培育產品高端化與品類出海,目前已進入收穫期,高端價格帶份額領先、海外新興市場也持續高增貢獻,產業地位不斷加強;未來數字化變革進一步深入、海外本土布局逐步完善、以及短期國補拉動等因素,海爾業績有望持續增長。預計25-27年歸母淨利潤211/232/254億,對應pe11.0/10.0/9.1X,長期配置價值凸顯,看好海爾全球競爭優勢,首次覆蓋給予“買入”評級。
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