运输行业周报:国债2%以下再看交运红利资产 京东物流100%控股跨越速运

长江证券股份有...
09 Dec 2024

周度聚焦:国债收益率破2%,再看交运红利资产投资价值2024 年12 月开始,十年期国债收益率跌破2%,达到2002 年以来历史谷底。而以高速板块为例,2019 年至今高速板块股息率-十年期国债收益率超额均值为1%,随着国债收益率的继续下行,打开交运板块红利资产的股价空间,投资价值持续凸显。我们对交运板块红利资产梳理总结出三种不同的投资逻辑,其中高速板块商业模式的缺陷有望迎来显著改善,是我们重点...

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