Entering June, the agency issued a monthly strategy, expressing its optimism about companies with stable growth and marginal improvement. Among them, Kuaishou, China Resources Beer, and Meituan were recommended by at least two institutions.
Guosheng Securities recommends focusing on high-quality real estate, finance, construction and other companies that benefit from measures to stabilize growth, such as Greentown China and China Nonferrous Mining . In addition, pay attention to technology and consumer companies that have benefited from the marginal improvement of the epidemic, the resumption of work and production, and the advent of the promotion season, such as JD.com-SW, Kuaishou-W, Li Auto-W, China Resources Beer , etc.
Guosheng Securities believes that the current valuation of Baidu’s intelligent driving business has not been fully reflected in the current stock price, which is worthy of attention. The release of new models is expected to boost the market’s valuation of Baidu’s car-making business. Continue to be optimistic about the huge growth space of the company’s autonomous driving business and AI cloud. The target price of Baidu’s Hong Kong stock is HK$194, and the target price of US stock is US$203 , and the “buy” rating is maintained.
Guosheng Securities also predicts that the CAGR of Li Auto’s revenue in the next three years will exceed 50%, and it is expected that the gross profit margin will remain at a high level in 2022, achieving profitability . The target price of Hong Kong stocks of Ideal Auto is HK$130, and the target price of US stocks is about US$33.4 , and the rating of “Buy” is maintained.
Guosheng Securities and Industrial Securities are both optimistic about Kuaishou and China Resources Beer. Based on segment valuation, France Sheng Securities gave Kuaishou a target price of HK$131 and reiterated its “Buy” rating.
Meituan is also the target of Hong Kong stocks that institutions are optimistic about in June. Soochow Securities said, “The bottom line of the Internet policy is more clear, and with the effective control of the epidemic, Shanghai’s food delivery has fully recovered, and the national food delivery will return to positive growth.
The mid- and long-term profitability of the takeaway business can be expected. With the further improvement of rider efficiency, there is room for further cost reduction, and rider cost is strongly related to order density. The community group buying business will achieve a major breakthrough. Meituan community group buying will lay the foundation for the early stage of e-commerce. In the future, Meituan e-commerce will achieve a major breakthrough. “
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