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研報掘金丨東方證券:海康威視全球化進程勢頭良好,維持“買入”評級
東方證券研報指出,加拿大業務禁令影響有限,海康威視全球化進程勢頭良好。禁令主要內容爲關閉加拿大公司業務,預計公司未來在加業務仍有空間。加拿大業務佔公司營收不足0.3%,禁令對公司業務影響有限。根據公司2024年年報,目前公司業務已覆蓋180多個國家和地區,爲當地客戶與用戶提供本地化服務,預計廣泛的業務來源能爲公司海外業務增長提供持續保障。公司在海外不斷推進“本土化”進程,將經營決策權下放至泛亞太、中東非洲、泛歐洲、美洲四大區,堅持“一國一策,一品一策”戰略,持續推動海外業務發展。預計未來公司將繼續堅定推進國際化,提升全球產品競爭力,爲公司成長提供新動能。根據可比公司26年23倍PE估值水平,對應目標價爲42.09元,維持“買入”評級。
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