According to the research report of Huachuang Securities, Zoomlion (000157.SZ) is one of the leaders in construction machinery. Its business philosophy of 'end-to-end, digitization and localization' has helped the company accelerate its global layout. In the stage of electrification and intelligence reform of construction machinery, it is expected to gain advantage with its years of technological R&D.
With the promotion of the Belt and Road Initiative concept, the company actively expands its global layout, acquires overseas companies such as United Kingdom's Powermole and Italy's CIFA, and builds a global manufacturing, sales and service network, covering more than 100 countries and regions around the world. As one of the leaders in the construction machinery industry, the company has maintained its industry-leading position in concrete machinery, lifting machinery and other fields. Earthmoving machinery and aerial work machinery are emerging businesses and are the main growth points of the company's performance.
Based on comparable company valuation, the company is given a 2024 PE ratio of 18 times, corresponding to a target price of 9.48 yuan. The stock price has a 29.2% upside potential compared to the current price. It is the first coverage and a 'strong buy' rating is given.
研报掘金丨华创证券：首予中联重科“强推”评级，目标价9.48元
Research reports from Huachuang Securities: First recommendation of Zoomlion with a "strong push" rating and target price of 9.48 yuan.
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