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【东莞证券】中信重工新股报告:重工龙头,节能设备前景广阔

東莞證券 ·  Jun 25, 2012 00:00  · Researches

Valuation situation: It is predicted that the company's EPS for 2011, 2012, and 2013 will be 0.35 yuan, 0.44 yuan, and 0.50 yuan, respectively. We select heavy equipment listed companies whose business is relevant to the company and compare them with companies. The 11-year static price-earnings ratio of related companies was 21.84 times, and the average dynamic price-earnings ratio for 2012 was 17.81 times, giving the company a price-earnings ratio of 17-22 times in 2011. The corresponding price was 4.93-6.38 yuan, and the corresponding 12-year price-earnings ratio was 14-18 times, respectively. Risk warning: 1) macroeconomic decline; 2) raw material price fluctuations, increased market competition, etc.

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