Sany Heavy Industry is favored by securities companies
Auto, real estate, petrochemicals and other stocks pay high attention
In terms of the stocks with the most recommended times, the securities companies were the most optimistic about Sany Heavy Industry in October, which was jointly recommended by Pacific Securities, China Securities construction investment, Ping An Securities and Zhejiang securities; followed by Ningde times and Great Wall Motors, which belonged to the automobile industry chain, were jointly recommended by three securities companies.
Data source: wind
From the recommendation reasons, CSCI believes that Sany Heavy Industrys domestic market construction machinery substitution effect will be more obvious, sustainable growth is expected; the overseas market layout has been initially improved, and the subsequent growth is expected to accelerate; the companys per capita income in the first half of 2020 is 2.67 million yuan, which is in the leading level in the global construction machinery industry, and the companys net interest rate is close to the highest level in history, There is still room for further improvement.
For Ningde era, Western Securities pointed out that the company is the leader in the domestic lithium battery industry, with scale advantages, and through the in-depth layout of the industrial chain, the cost is reduced; the companys leading position is stable and can fully benefit from the rapid growth of the new energy industry.
For Great Wall Motors, Ping An Securities believes that the companys system reform has begun to show results and can cope with the new business model of the automobile industry. In addition, the companys SUVs, pickup trucks and SUVs are launched in three arrows, and the profitability of single vehicle is expected to improve.
In addition to the above three stocks, Gemdale group, Longji shares, Hengli petrochemical, China Ping An and other stocks have been jointly recommended by more than two securities companies. It is worth noting that Wuliangye, which was recommended by many securities companies for several consecutive months, reappeared in the gold stock list of Zhejiang securities and Western securities in October.
In the view of Zheshang securities, under the background of stable population base and continuous consumption upgrading, the ton price of high-end liquor is expected to continue to rise. At the same time, high-end liquor will benefit from the strengthening of Matthew effect in the industry, and the release of expansion dividend is expected to exceed expectations. As far as Wuliangye is concerned, although the company optimizes the channels to reduce about 4000 tons, it can not only guarantee the annual performance through group purchase and innovative business, but also has the current value of the company with cost performance, and the subsequent upward rating is expected to further improve the valuation.
Data source: wind
There is no need to worry too much in the short term
According to CSCI, the market correction since mid August has ended, and the market will enter a process of periodical recovery in shock. This process is supported by economic fundamentals and liquidity, and its upward trend is sustainable. Economic recovery is still the main line, so the financial cycle continues to dominate.
Pacific Securities pointed out that the continued outflow of foreign capital since September and the obvious correction of A-share conglomeration stocks may have reflected the pessimistic expectation of tight liquidity margin. After the short-term capital disturbance, the RMB appreciation space opens, which will re attract foreign capital to return to a shares. The third quarter report verified the steady recovery of the economy, the current monetary inflection point has not been reached, and the pattern of medium and long-term improvement has not changed. At present, the market has been adjusted to the lower edge of the range shock, and the valuation water level of overvalued varieties has also been digested, and the market mid-term layout opportunity will be now.
Pay attention to the main line of Pro cycle and improve the performance of enterprises in the third quarter
Zheshang Securities believes that from the market dimension of 1-2 quarters, the market has gradually stepped into the window of long-term growth. On the overall structure, bank stocks are on the stage, and technology stocks are singing. In terms of configuration, banking stocks are expected to usher in valuation repair market in the fourth quarter; in the next 1-2 quarters, it is suggested to focus on military industry, semiconductor, photovoltaic and electric vehicle stocks with high prosperity.
Pacific Securities proposes to focus on the pro cyclical sector, including four ideas: first, undervalued sectors, including securities companies and insurance companies; second, undervalued sectors with good marginal demand, including building materials, chemical industry, coal, nonferrous metals, machinery and real estate; third, the technology + manufacturing internal circulation plate, including photovoltaic, new energy vehicles, and so on 5g infrastructure, cloud computing; fourth, the internal circulation of consumption plate, including automobile, consumer electronics, home appliances, film and television theater, tourism. Sichuan financial securities suggests that, from the perspective of domestic demand, we should explore the stocks with improved fundamentals, industry recovery and stable performance in the fourth quarter: first, the infrastructure sector, which is expected to continue to maintain high-speed growth in October; second, the apple industrial chain, the iPhone 12 series is about to be released, and the relevant industry chain targets are expected to achieve order growth in the fourth quarter; and the third is the military industry sector Fourth, the related consumer industries driven by the golden week of mid autumn national day tourism can focus on hotel catering consumption, aviation, media and other related sectors in the short term. Source: Yang Qian, editor in charge of China Securities Journal_ NF4425
Pacific Securities proposes to focus on the pro cyclical sector, including four ideas: first, undervalued sectors, including securities companies and insurance companies; second, undervalued sectors with good marginal demand, including building materials, chemical industry, coal, nonferrous metals, machinery and real estate; third, the technology + manufacturing internal circulation plate, including photovoltaic, new energy vehicles, and so on 5g infrastructure, cloud computing; fourth, the internal circulation of consumption plate, including automobile, consumer electronics, home appliances, film and television theater, tourism.