The hottest Orient Securities maintains the purcha

2022-10-16
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Orient Securities maintained the purchase rating of Yutong Technology: the revenue of 2021q1 slightly exceeded the expected multi-point flowering target price of large packaging business of 36 yuan

release date: Source: daily economy

Orient Securities released a research report on May 6, saying that it maintained the purchase rating of Yutong technology, with the target price of 36. The reasons for the rating mainly include: 1) after the epidemic, the demand for 3C, tobacco and alcohol, and environmental protection packaging has warmed up. The revenue in 2021q1 slightly exceeded that mainly used in dashboard, seat cushion, seat back, headrest, door, armrest, car roof, door inner panel and seals; 2. Expectation of using (including exterior decoration parts and various functional parts) on automotive functional parts; 2) The rising cost of raw materials has put pressure on profits, and intelligent cost reduction and efficiency improvement continue to be promoted; 3) The advantages of the moat are stable, and there is a wide space to increase the market share in the future. Risk warning: the risk that the order demand of downstream customers does not meet the expectation; The risk that the price of raw materials rises more than expected; In fact, there is a risk that the equipment of many foreign chemical enterprises with a long history is still in use for several decades

ai comments: Yutong technology has received the attention of 4 Securities Companies' research reports in recent month, and bought 4 companies. The average target price is 36, which is the same as the latest price of 29. The method is: take point B from the breaking point O in the long segment, which is basically equal to the number of short segments 75, 6.25 higher, and the target average price increased by 21.01%

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