When the peak season is coming, can liquor stocks go crazy? Institutions are optimistic about leading enterprises

category:Finance
 When the peak season is coming, can liquor stocks go crazy? Institutions are optimistic about leading enterprises


Minsheng Securities said that in the near future, the liquor industry is about to enter the shrinking price raising period before the Spring Festival peak season. The sentiment of the plate is expected to be gradually boosted, and the plate market will gradually turn into the heavy stock market in the name of valuation switching. The investment proposal is still the focus, and the growth certainty combination is recommended: Guizhou Maotai + Wuliangye + Luzhou Laojiao + Shanxi Fenjiu core portfolio is recommended, and Yanghe stock + Jinshiyuan + Gujing gongjiu combination is also concerned.

Tianfeng Securities believes that the recent liquor plate volatility is significant, mainly due to the influence of funds and emotions, and the underlying fundamental support factor is the strong possibility of improvement on a month on month basis in the next three quarters. In the long run, the overall valuation center of liquor plate is expected to stabilize from 20-30 to 30-40 median. Maowulu liquor was continuously recommended for high-end liquor, Luzhou Laojiao was recommended emphatically, Kouzijiao was the first to be recommended for secondary high-end liquor, focusing on Yanghe and shede.

CSCI pointed out that in the first half of the year, liquor companies cleared inventory and controlled delivery, accelerated the delivery progress in the second half of the year, superimposed on the recovery of demand, and this years performance certainty improved quarter by quarter. The Spring Festival in 2021 is later, and the stock preparation is more reflected in the first quarter. Under the low base number, liquor will usher in four consecutive quarters of good performance. At least from the perspective of the next year, the liquor industry will maintain a high prosperity. From a long-term perspective, the liquor industry is still the best track. The trend of good demand in the liquor industry will not change, and the market share will not change. The optimization trend of product structure under consumption upgrading will not change. The expectation of better performance of liquor enterprises in the next four to five quarters will not change. From the perspective of the recommended targets, we firmly believe in the head liquor enterprises, continue to recommend Maotai, Wuliangye, Luzhou Laojiao and Shanxi Fenjiu with good competition pattern and definite growth, and benefit from Gujing gongjiu, Jinshiyuan and Shunxin agriculture, a low-end liquor with national potential. Source of this article: Yang Bin, editor in charge of the first finance and Economics_ NF4368

CSCI pointed out that in the first half of the year, liquor companies cleared inventory and controlled delivery, accelerated the delivery progress in the second half of the year, superimposed on the recovery of demand, and this years performance certainty improved quarter by quarter. The Spring Festival in 2021 is later, and the stock preparation is more reflected in the first quarter. Under the low base number, liquor will usher in four consecutive quarters of good performance. At least from the perspective of the next year, the liquor industry will maintain a high prosperity. From a long-term perspective, the liquor industry is still the best track. The trend of good demand in the liquor industry will not change, and the market share will not change. The optimization trend of product structure under consumption upgrading will not change. The expectation of better performance of liquor enterprises in the next four to five quarters will not change. From the perspective of the recommended targets, we firmly believe in the head liquor enterprises, continue to recommend Maotai, Wuliangye, Luzhou Laojiao and Shanxi Fenjiu with good competition pattern and definite growth, and benefit from Gujing gongjiu, Jinshiyuan and Shunxin agriculture, a low-end liquor with national potential.