研报掘金丨东吴证券：维持分众传媒“买入”评级高经营杠杆模式叠加“碰一碰”带来增量

格隆汇08-13

东吴证券研报指出，分众传媒“碰一碰”开启梯媒品效合一新时代，顺周期下楼宇媒体高覆盖的基本面支撑其业绩弹性。分众竞争格局持续改善，2024年楼宇媒体收入占比94.19%，高覆盖点位为“碰一碰”铺展提供核心优势。随着消费复苏，顺周期逻辑下，其高经营杠杆模式叠加“碰一碰”带来的增量，有望在利润端释放显著弹性。短期关注“碰一碰”CPS模式对利润弹性的释放及新潮整合后的成本优化，中长期看好“碰一碰”抽佣率...

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研报掘金丨东吴证券：维持分众传媒“买入”评级 高经营杠杆模式叠加“碰一碰”带来增量

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研报掘金丨东吴证券：维持分众传媒“买入”评级高经营杠杆模式叠加“碰一碰”带来增量