研報掘金丨華創證券:維持海爾智家“強推”評級,後續經營彈性有望釋放
華創證券研報指出,近期發改委下達第三批國補資金690億元,同時國內外多地高温天氣頻發,預計海爾空調在北方地區份額較高,且歐美市場佔比較大,有望帶動公司空調業務收入利潤同步改善。高温天氣催化行業需求,海爾空調東北地區高增。另外,美國房地產市場有望改善,歐洲高温或提振空調需求。在美國地產需求或回暖+歐洲高温天氣催化帶動下有望支撐公司收入利潤改善,疊加近期公司管理層增持股份彰顯信心,重視公司下半年在低基數背景下的經營彈性。公司經營穩中向好,在國內外市場的需求改善背景下,後續經營彈性有望釋放。維持目標價34.5元,對應25年15倍PE,維持“強推”評級。
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