研報掘金丨東吳證券:首予廈鎢新能“買入”評級,目標價67元
東吳證券研報指出,廈鎢新能作為正極材料頭部企業,以鈷酸鋰和三元材料雙輪驅動,並且控股股東廈門鎢業為其賦能,新材料如磷酸鐵鋰、硫化鋰等佈局加速。24年公司盈利能力逐步恢復,24Q4業績恢復同比正增長,25Q1歸母淨利同增5%。考慮公司主業增長明確,且卡位固態電池核心材料硫化鋰,技術工藝領先。該行給與公司2025年35x 估值,對應目標市值282億,對應目標價67元,首次覆蓋,給予“買入”評級。
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