11 companies receive overweight rating-updating
On January 9, SAIC Group (600104) was given an Overweight rating.
Investment suggestion: The sales growth rate of passenger car faucets has turned positive, driving the industry to start recovery; SAIC Passenger Cars has achieved continuous growth, sales of joint venture brand SAIC Volkswagen have surged, and SAIC GM is expected to recover in the future. In 2020, the company is expected to exert scale effects. Results are repaired quarterly.
In view of SAIC-GM and GM-Wuling ’s sales recovery being less than expected, the agency lowered its profit forecast: It is expected that the company's revenue for 2019-2021 will be RMB 80,070,686 / 914.4 billion (before the reduction of RMB 8,326 / 8,887 / 9293 billion). It is RMB 29,322,34.2 billion (RMB 31,23.6, or RMB 38.9 billion), and EPS is RMB 2.50 / 2.76 / 2.93 (RMB 2.67 / 3.08 / 3.33 before the reduction), corresponding to PE9.55 / 8.66 / 8.17 times. Switch to 2020, give the company 10 times the target PE, target price raised from 26.7 yuan to 27.6 yuan, maintain "overweight" rating.
Risk warning: downside risks in the auto market; sales of old models fail to meet expectations; new models are not listed on the market; auto consumption stimulus policies fail to meet expectations.
In the past 6 months, the stock has received 90 buy ratings, 20 overweight ratings, 14 recommended ratings, 5 strong push ratings, 5 outperforming industry ratings, 3 strongly recommended-A ratings, and 3 cautious recommendations. Rating, 3 times better than the market rating, and 1 hold rating.
[15:47 Shangfeng Cement (000672): Fourth-quarter sales surge, scarce growth stocks in the cement industry]
On January 9, Shangfeng Cement (000672) was given an Overweight rating.
Risk Warning: The risk of sharp decline in real estate investment and rising raw material costs.
The stock has received 12 buy ratings and 5 overweight ratings from the institution in the last 6 months.
[14:02 Tsuen Yin Hi-Tech (300087): Prospects for the transformation of genetics into the integration team of two industries]
On January 9th, Tsuen Yin Hi-Tech (300087) was given an overweight rating.
Risk warning: Natural disasters, policies that are less than expected, etc. bring uncontrollable risks.
The stock has received two institutional overweight ratings in the past six months.
[13:52 Carbon Technology (603133): 5G has come to deploy heat pipes / VC to welcome industry dividends]
On January 9th, Carbon Yuan Technology (603133) was given an overweight rating.
Risk warning: 5G mobile phone sales are lower than expected; competition in the industry has intensified, and product prices have fallen. The stock has received two institutional buy ratings and two buy-A ratings in the past six months.
[11:37 Yongxing Materials (002756): Stainless steel plate steadily grows, lithium carbonate puts into production icing on the cake]
On January 9, Yongxing Materials (002756) was given an overweight rating.
Profit forecast: The company is a leader in stainless steel wire rods. While consolidating its industry position, it will enter the new energy field, build a production line of lithium carbonate, a core material for ternary batteries, and actively arrange upstream raw materials. This part of the business is expected to become the company's new growth point. The agency predicts that the company's operating income for 2019-2021 will be 4.889 billion, 5.186 and 5.393 billion yuan; the net profit attributable to the parent will be 4.58, 4.98, and 541 million yuan; the corresponding EPS will be 1.27 / 1.38 / 1.5 yuan, and the corresponding PE will be 11.2 / 10.3 / 9.4, give "overweight" rating.
Risk reminder: The capacity release of investment projects and new lithium power projects is less than expected; the price of lithium carbonate has fluctuated sharply; the demand for products has fallen sharply; the risks brought by the fluctuation of raw material prices; the uncertainty brought by the Sino-US trade war; policy risks;
In the past 6 months, the stock has received 7 institutional overweight ratings, 5 buy ratings, 2 prudent overweight ratings, and 1 outperform rating.
[11:26 Han's Laser (002008) major event comment: bad debt accrual, order delay, etc. result in performance revision is expected to return to the growth track in 2020]
On January 9th, Han's Laser (002008) was given an overweight rating.
Risk factors: The industry demand is lower than expected, the core client revenue is lower than expected, and intensified competition leads to a decline in gross profit margin.
Investment suggestion: due to bad debt accrual, customer order delay, etc., the agency accordingly reduced the company's 2019 EPS forecast to 0.64 yuan (the original forecast was 0.75 yuan), maintaining the 2020-2021 forecast unchanged, giving the company 32 times PE in 2020 , Corresponding target price to 45.82 yuan, maintain "overweight" rating.
In the past 6 months, the stock has received 20 buy ratings, 10 neutral ratings, 5 overweight ratings, 4 recommended ratings, 2 outperform ratings, 2 buy-A ratings, and 2 runs. Win industry rating.
[10:31 Poly Real Estate (600048): Actively deleveraging beyond expected results]
On January 9, Poly Real Estate (600048) was given an overweight rating.
Risk Warning: The company is taking the wrong pace.
In the past 6 months, the stock has received 85 buy ratings, 33 overweight ratings, 19 outperform industry ratings, 9 strong push ratings, 9 recommended ratings, 6 strongly recommended ratings, and 5 highly recommended-A Rating, 4 times better than the market rating, 1 time BUY rating.
[10:17 CITIC Bank (601998): Performance growth slows slightly and asset quality improves]
On January 9, CITIC Bank (601998) was given an overweight rating.
Investment suggestions: The company's 2019E and 2020E PB 0.70X / 0.63X; PE 6.39X / 5.71X (stock bank PB 0.88X / 0.78X; PE 7.23X / 6.49X). The company's 19-year performance has been driven by the scale and interest margin. It has steadily picked up, and the overall performance has been stable throughout the year. In the fourth quarter, the asset quality has improved significantly. The company has a good foundation for corporate customers and has made great efforts in retail transformation. It is recommended to pay close attention to the company's future transformation.
Risk reminder: The macro economy is facing downward pressure, and performance management is less than expected.
The stock has received 46 institutional overweight ratings, 28 buy ratings, 3 prudent overweight ratings, 3 neutral ratings, 2 recommended ratings, 2 outperform ratings, and 1 BUY rating in the last 6 months. .
[09:47 billion sail medicine (002019): F627 domestic phase III clinical success is expected to improve performance in the future]
Yifan Pharmaceutical (002019) was given an overweight rating on January 9.
Earnings forecast and risk suggestion for investment advice: Consistency evaluation of injections. The stock has been purchased with 9 buy ratings and 2 highly recommended ratings in the past 6 months.
[07:51 Zhaoyan New Drug (603127): The year-over-year performance growth surpasses expectations The industry maintains a high degree of prosperity]
On January 9th, Zhaoyan New Drug (603127) was given an overweight rating.
Earnings forecast and investment rating risk warning: the number of orders has grown less than expected; the capacity expansion progress has fallen short of expectations; the clinical business, pharmacovigilance business and overseas business expansion have fallen short of expectations.
In the past 6 months, the stock has received 19 buy ratings, 17 overweight ratings, 15 recommended ratings, 3 highly recommended-A ratings, 2 cautious overweight ratings, 2 overweight-A ratings, and 1 Highly recommended rating.
[07:21 Miao Ke Lan Duo (600882): Mengniu's strategic investment in the long-term synergy has many advantages]
On January 9, Miao Kelan Duo (600882) was given an overweight rating.
Profit forecast: The company will increase advertising and marketing, and increase production line introduction and production capacity. In the future, as production capacity is gradually put into production, the company is expected to realize revenue of 17.77, 2.439, 3.133 billion yuan in 2019-2021, and achieve net profits of 2665, 4878, 72.07 million yuan, corresponding to EPS of 0.07, 0.12, 0.18 yuan per share, corresponding to the current PE of 232, 135, 90X.
Risk reminder: manage business risks, cheese industry is less than expected risks, the two companies cooperate with unsatisfactory risks, etc.
The stock has received 13 buy ratings and 4 buy-A ratings from the institution in the last 6 months.