研报掘金丨华泰证券：维持徐工机械“买入”评级，上调目标价至13.4元

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华泰证券研报指出，徐工机械是全球工程机械龙头，业务布局全面，近年来传统优势土方板块不断提质，同时通过矿机等新兴板块以及海外扩张实现快速增长。22年混改完成后公司先后发布三年回报计划和25 年重磅股权激励，净利率已连续2 年稳步提升，表内外风险敞口连续2 年减小，经营性现金流持续改善。我们看好工程机械行业新一轮复苏以及公司矿山机械等新兴板块增长潜力，上调目标价至13.4元，维持“买入”评级。 ...

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