广发证券研报指出,交通银行定增落地,估值有望继续提升。25年6月特别国债资本补充计划落地,测算交通银行核心一级资本充足率明显提升1.3PCT 至11.52%。短期来看,资本充足率的提升有利于分红比例保持高位,考虑到定增溢价率与摊薄水平基本相当,高股息价值有望长期保持,在经济筑底时期对估值形成一定支撑。长期来看,考虑到财政加快发力,经济逐步企稳,规模增长提速、零售转型加速带动ROE 回升,估值有望...
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