研报掘金丨申万宏源研究:首予中国中铁“增持”评级,资源板块发力推动估值修复

格隆汇APP
Dec 24, 2025

申万宏源研究研报指出,中国中铁报表优化,资源板块发力推动估值修复。公司新签订单边际改善,结构优化,在手订单充裕,保障长期稳健增长。展望2026年,随着地方政府化债的有序推进,叠加中央“两重”项目实施,2026年投资有望维稳,部分子板块则有望随国家战略而获得较高投资弹性。采用市盈率估值法,选取港股中国铁建、中国中冶、中国交通建设、中国能源建设作为可比公司,可比公司2025/2026年平均PE4.2X...

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