Institutional Analysis Friday hot plate and stocks Quest (of shares)

Institutional Analysis: Friday hot plate and stocks Quest (of shares) in industry and analysis of stocks from the brokerage Research Report, only analysts of the industry and the stocks of the personal views do not represent the views of the card network, not as investors buy or sell stocks on stock market risk, the investment must be cautious. 1, building materials: China’s water industry high degree of prosperity will keep a long-term view of the industry recommended 2 shares: International waterproofing industry more scale, standardization, science and technology: through the study of foreign water market, the following significance: with the expansion of application fields gradually peatlands, renovation of two waterproof materials in buildings the demand in China will further enhance the waterproof market; government supervision of waterproof engineering of waterproof construction is not enough, the training of personnel and a large number of fake and shoddy products is the main cause of China’s construction high leakage rate, this is the future of the industry to focus on solving problems; leading enterprises to improve market share is a big trend the development of the industry; polymer waterproofing materials, waterproofing layer has good prospects for development. China’s water industry high degree of prosperity in China: waterproof asphalt paper industry has been basically bid farewell to the era, with new waterproof materials, future coatings and self-adhesive asphalt coiled material or have more room for development. With the current demand side boom (better benefit from the two renovation, construction, underground pipe gallery, consumption upgrade, retail layout etc.), the supply side of backward production capacity, fake and shoddy products exit speed, waterproof market boom will keep for a long time, the industry leading enterprises grow huge space. Investment advice: we are optimistic about the industry strategy of waterproofing industry overall boom (benefit from two decoration, infrastructure, underground pipe gallery, consumption upgrade) will continue higher than the average level of the building materials industry, because of backward production capacity, fake and shoddy products from the market to accelerate the industry competition pattern will be significantly improved. The recommended combination: waterproofing industry we give a "buy" rating, the key recommendation in the industry leading enterprises in the industry: the Oriental Yuhong (as the largest enterprise market share of only about 5%; the capacity of the layout gradually improve the production capacity to ease the bottleneck; the team and the higher decision-making and executive ability has been fully verified the high market vesting conditions; the equity incentive plan shows the development of confidence; 2016-2018 three years EPS were 1.19 yuan, 1.55 yuan, 1.95 yuan). Keshun waterproof (2013-2015 owned by the parent net profit to maintain double the growth rate of 143.38%, 2016H1, continue to maintain high growth; development ability is the forefront of the industry; stable management team; the successful completion of a given increase in equity investment will accelerate the release of production capacity; 2016-2018 EPS forecast for 1.69 yuan, 1.97 yuan, 2.29 yuan). Risk suggests that underground pipe gallery development is not as expected; real estate investment has declined sharply; raw material prices have risen sharply. (state securities He Guowen)

机构解析:周五热点板块及个股探秘(附股) 本文涉及的行业及个股分析来源于券商研究报告,仅为分析人士对该行业及个股的个人观点,不代表中证网观点,不作为投资者买卖股票的依据,股市有风险,投资须谨慎。 1、建材:我国防水行业高景气度将长期保持 荐2股行业观点:国际防水行业更加规模化、规范化、科技化:通过对国外防水市场的研究,得出以下几点借鉴意义:随着二次装修的逐步放量、防水材料在建筑内应用领域的扩大,我国防水市场需求将进一步提升;政府对防水工程的监管力度不够、对防水施工人员的培训不足以及大量的假冒伪劣产品是造成我国建筑高渗漏率的主要原因,这是未来行业要着重解决的问题;龙头企业市占率提升是行业发展大趋势;高分子防水材料、单层防水卷材具有良好发展前景。我国防水行业高景气度:我国防水行业已基本告别纸胎油毡时代,以新型防水材料为主,未来涂料与自粘沥青卷材或有更大发展空间。伴随当前需求端景气度较好(受益于二次装修、基建、地下管廊、消费升级、布局零售等),供给端落后产能、假冒伪劣产品退出提速,防水市场景气度将长期保持,行业内龙头企业成长空间巨大。投资建议行业策略:我们看好防水行业整体景气度(受益于二次装修、基建、地下管廊、消费升级等)将持续高于建材行业平均水平,由于落后产能、假冒伪劣产品清出市场加速,行业竞争格局将明显改善。推荐组合:防水行业我们给予“买入”评级,重点推荐行业内的龙头企业:东方雨虹(作为行业内最大的企业市占率仅5%左右;产能布局逐步完善缓解产能不足瓶颈;公司团队的较高的决策及执行能力已得到市场充分验证;高行权条件的股权激励计划彰显发展信心;公司2016-2018三年EPS预测分别为1.19元、1.55元、1.95元)。科顺防水(2013-2015归母净利润保持翻倍增长,2016H1增速达143.38%,继续保持高速增长;研发能力属行业前列;管理团队稳定;定增募投顺利完成将加速产能释放;公司2016-2018三年EPS预测分别为1.69元、1.97元、2.29元)。风险提示地下管廊发展不及预期;房地产投资大幅下滑;原材料价格大幅上涨。(国金证券 贺国文)相关的主题文章:

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