廣發證券:泛自營先行回暖 券商業績有望持續改善
廣發證券研報表示,2024年第三季度證券行業整體業績復甦,歸母淨利潤同比+41%,行業集中度提升。各業務線業績大多不同程度下滑,泛自營業務低基數下成為增長驅動。展望未來,一是增量資金入市及穩增長政策落地,有助於持續提振市場信心;二是央行創新貨幣工具落地,維穩及活躍資本市場,打開頭部券商槓桿提升空間;三是內外因素推動市場回暖可期,隨後階段性收縮的投行業務有望復甦、長期趨勢的泛財富管理增長確定性增強,券商業績有望持續修復,彈性可期;四是行業格局上頭部化有望迎來新突破。當前估值得到明顯修復,證券板塊基金持倉仍處低點。
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