2026年10月27日，华泰证券（601688）发布研报，上调金风科技（002202）评级，评级由“增持”调整为“买入”。本次评级报告研究员为刘俊。
该研报摘要表示：
Reflecting slower domestic onshore wind demand growth and the impact of delivery timing on overseas operations, we cut our 2026/2027/2028 attributable NP forecasts to RMB3.79bn/5.26bn/6.35bn (-17.53%/-12.42%/-10.59% vs our previous forecasts), with EPS of RMB0.90/1.25/1.50. We roll our valuation forward to 2027. Against a comparable-companies average PE of 11.78x on Wind consensus, we apply 15x 2027E PE to the A-shares, reflecting the company’s lead in turbine earnings recovery and the commercialization of hydrogen, ammonia, and methanol, as well as potential benefits from commercial space catalysts through its stake in LandSpace. We lower our Goldwind-A target price to RMB18.75 (previously RMB23.44, based on 21.5x 2026E PE). Applying the company’s average A-share premium over Goldwind-H of 85% over the past year, we set our H-share target price at HKD11.84 (previously HKD16.09, based on an A-share premium of 68%).
（数据来源：同花顺（300033）iFinD）
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