全球能源行业战略：资本支出双位数增长多年LNG FID周期买入全球石油服务板块-230728（30页）.pdf

1、 【表_yemei1】观点聚焦 本研究报告由海通国际分销，海通国际是由海通国际研究有限公司，海通证券印度私人有限公司，海通国际株式会社和海通国际证券集团其他各成员单位的证券研究团队所组成的全球品牌，海通国际证券集团各成员分别在其许可的司法管辖区内从事证券活动。关于海通国际的分析师证明，重要披露声明和免责声明，请参阅附录。(Please see appendix for English translation of the disclaimer)研究报告 28 Jul 2023 全球能源战略全球能源战略 资本支出双位数增长；多年 LNG FID 周期；买入全球石油服务板块 Table_Info

2、市盈率 P/E 股票名称 评级 目标价 2023E 2024E Ballard Power Sys.Outperform 8.00 n.a.n.a.布鲁姆能源 Outperform 33.00 n.a.46.5 Clearway Energy Outperform 43.00 19.6 18.8 Enphase Energy Outperform 304.00 28.1 21.3 利文特 Outperform 37.00 11.3 9.3 Lynas Rare Earth Outperform 12.00 17.0 18.1 MP Materials Outperform 56.00 22.4

3、 12.7 Nextracker Outperform 50.00 28.4 20.8 普拉格能源 Outperform 15.00 n.a.n.a.SolarEgde Tech.Outperform 373.00 27.1 22.9 Vestas Wind Sys.Outperform 300.00 331.7 33.4 JGC Holdings Outperform 2,386 14.0 13.8 RENOVA Outperform 2,375 48.2 18.4 资料来源：Factset,HTI Related Reports European New Energy Deep Dive;

4、Eunappreciated European New Energy Growth;Geopolitics Structurally Changed Clean Energy Outlook(21 Jul 2023)Higher Global Lithium Supply and Utilization May Continue in 3Q;Robust Demand,but China NEV Sales Growth May Slow in July(17 Jul 2023)Impacts of Artificial Intelligence on Global Energy(12 Jul

5、 2023)HTIs Proprietary Global New Energy M&A Database;Overseas Solar and Wind Names Offer Opportunities on Further M&A(11 Jul 2023)Prefer overseas rare earth producers over China name;Challenges for magnet margins(11 Jul 2023)Energy Transition Growth to Accelerate;Livent,Clearway,SolarEdge,Plug Offe

6、r the Best Earnings Surprise;Downside Risks for Vestas,Nextracker,MP Materials,Enphase and RENOVA(5 Jul 2023)Growing Importance of Overseas Rare Earth Companies;Structurally Tight Rare Earth Outlook may Get Even Tighter(5 Jul 2023)Global Wind Turbine Benchmarking;Awaiting an Entry Point;Margin Recov