The Pacific maintains the aviation development control buy rating: deducting the non-net profit to grow significantly, the engine leader has high growth and can be expected – yqqlm

　　Pacific OceanPosted on April 8thResearch reportsay, maintainFlight control(000738.SZ, latest price: 22.67 yuan) Buy rating.The reasons for the rating mainly include: 1) Focus on core core business, increase revenue growth, deduct non-return to parentnet profitThe year-on-year growth rate reached 50%; 2) The expense ratio dropped significantly during the period, and the R&D investment increased; 3)contractLiabilities have exploded, and orders in hand are full; 4) The fixed increase will be implemented, and the fundraising projects will release production capacity; 5) The estimated amount of related-party transactions in 2022 will increase significantly; 6) The acceleration of military aircraft installation is expected to be strong, and policy support will help high growth; 7 ) Domestic replacement of civil aviation engines is imperative, and it is expected to break the long-termperformance8) The customer base is consolidated, and the international cooperation business is expected to recover. Risk warning: The deployment of military aircraft is less than expected; the expansion of civilian products business is less than expected.

AI comments:Flight control6 copies in the past monthbrokerageThe research report paid attention to 5 companies and increased their holdings in 1 company. The average target price was 31.42 yuan, which was 8.75 yuan higher than the latest price of 22.67 yuan, and the average target price increased by 38.6%.

(Article source: Daily Economic News)

Article source: Daily Economic News

Responsible editor: 92

Original title: Pacific maintains Hangfa Control Buy rating: deducting non-net profit has increased significantly, and the high growth of engine leader can be expected