中信建投:券商板块2026年有望迎来估值修复与业绩增长的戴维斯双击

格隆汇
Feb 09

格隆汇2月9日|中信建投研报指出,2025年证券行业进入新一轮增长周期,但券商股票因缺少独立催化、前两年悲观情绪的延续等原因而导致超额收益不佳。2025年前三季度上市券商年化ROE已达7.1%,对应PB估值在8月峰值仅1.60倍、三季度末1.47倍,显著低于历史同ROE水平的估值区间,存在明显修复空间。2026年政策利好驱动业绩持续增长,板块有望重新定价。当前“服务新质生产力+中长期资金入市+券商...

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