《大行》花旗:供應側改革推動多晶矽股上漲 首予協鑫科技(03800.HK)、大全新能源(DQ.US)「買入」評級
花旗發表研究報告指,隨着供應側改革推動所有主要多晶矽股票上漲,首次對協鑫科技(03800.HK)、大全新能源(DQ.US)給予「買入」評級。花旗認爲有關改革或爲中國太陽能行業帶來以下三方面的影響,包括:從保護性關稅轉向市場化關稅正在減緩太陽能產能新增產能,進而可能迫使小型多晶矽供應商退出市場;潛在的政府協助產能收購可能惠及較大型多晶矽企業收益,確保行業有序整合;價格管控可能抑制多晶矽價格,僅7月上半月多晶矽價格已上漲28%。
花旗認爲,上述情況帶來的利潤轉機可能引發對太陽能行業的重新評價,並基於成本曲線的依序選擇協鑫科技(03800.HK)、通威股份(600438.SH)、大全新能源。
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