光大证券研报指出，京东方A拟收购彩虹光电30%股权，竞争优势再扩大。本次收购彩虹光电30%股权，符合京东方发展战略，能够助力公司继续巩固和扩大竞争优势，强化京东方在行业内影响力，促进公司业务整体竞争力提升。另外，公司回购武汉B17 少数股东权益将增厚母公司业绩；公司折旧预计25年达峰，后续折旧下降有望带来可观利润弹性。公司会持续优化产品产线定位，进一步提升运营效率，持续改善盈利水平。考虑到目前面板行业景气度虽显著恢复，但折旧金额仍然较大，结合公司25年Q1业绩情况，调整公司25-26年归母净利润预测至87.84亿/124.71亿元，调整幅度为-7%/-8%，并新增27年归母净利润预测为144.86亿元，对应PE估值分别为17X/12X/10X。考虑到公司面板景气度边际回暖以及OLED业务成长性，维持公司“买入”评级。
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