蘇泊爾(002032.SZ): 持續穩健增長可期 January 18, 2018

投資概要

  • 受益于消費升級和城鎮化,炊具及廚房小家電仍具備量價提升空間;
  • 实施限制性股權激勵,疊加業績考核,传递稳健持續增長信号;

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投資評級

公司是炊具、小家電領域的龍頭企業,受益于自身品牌和渠道優勢以及産品升級和市場擴容,未來整體業績具備持續穩健增長預期。我們預計公司2017-2018年可實現歸屬于上市公司股東淨利潤13.04億、15.57億,對應EPS1.59元、1.9元,對應當前股價估值爲26.7、22.4,给予目标价47.5元,首次覆蓋,爲“增持”評級,建议逢低买入。

About the author

Profile photo of Wang Yannan

Wang Yannan
Phillip Securities (HK)

Graduated from the University of Science and Technology of China with a Masters degree in Management and major in Financial accounting and Economics throughout her academic study.

Currently Covering Environmental Protection and New Energy sectors as an analyst in Phillip Securities and focus on the macro policy,industry and fundamentals to explore the investment value.

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