At the end of the first quarter, the analysis of investment strategies and related portfolios of institutions in April was also gradually released.
According to incomplete statistics by the reporter of China Securities Journal, as of March 31, 14 securities companies, including China Galaxy Securities Co.Ltd(601881) securities, Anxin securities, Western Securities Co.Ltd(002673) , Huaan Securities Co.Ltd(600909) and others, have released their latest monthly portfolios. Some pharmaceutical, banking and agricultural stocks have been collectively favored by many securities companies, and the "gold stocks" of securities companies in power equipment, food and beverage and other industries are densely distributed.
Looking forward to the future, the agency believes that the current market has entered the bottom grinding stage, the market positive factors are gradually accumulating, and the current round of trend rebound is expected to continue until May. In terms of allocation, there is a clear consensus on the direction of steady growth and high prosperity.
bullish on individual stocks of medicine, banking and agriculture
According to the data, as of the press release of China Securities Journal on March 31, 14 securities companies have released the "gold stock" portfolio in April 2022. The 119 A shares and Hong Kong stock targets recommended by them cover dozens of sub sectors such as power equipment, computers, beauty care, medicine and biology, food and beverage, national defense industry and so on.
Based on the number of recommendations by a single broker counting the number of times recommended by a single broker, the most favored stocks in April, based on the number of times recommended by a single broker. The most favored stocks in April April are Topchoice Medical Co.Inc(600763) \ \securities. It is worth noting that Topchoice Medical Co.Inc(600763) , Chongqing Zhifei Biological Products Co.Ltd(300122) belong to the biomedical sector. The former is mainly engaged in oral medicine chain operation, while the latter is a well-known vaccine R & D and manufacturer.
Securities companies ranked among the top gold stocks in April
Data source: Research Report of securities companies
From the perspective of stocks recommended by securities companies, two types of industries are particularly concerned by securities companies: first, bank stocks, involving gold stocks, including Bank Of Nanjing Co.Ltd(601009) , Postal Savings Bank Of China Co.Ltd(601658) , Bank Of Ningbo Co.Ltd(002142) ; Second, agricultural stocks, involving gold stocks, including Muyuan Foods Co.Ltd(002714) , Hunan New Wellful Co.Ltd(600975) . In terms of technological growth, securities companies recommended more stocks in April, including Starpower Semiconductor Ltd(603290) , Quectel Wireless Solutions Co.Ltd(603236) , Longi Green Energy Technology Co.Ltd(601012) , etc.
Three Hong Kong stocks were also recommended by securities companies, namely CNOOC, Jinke service and COFCO jiajiakang. Their main businesses are oil and gas exploration, property services, pig breeding and meat products production.
List of gold shares of 14 securities companies in April
Data source: Research Report of securities companies
However, from the perspective of the overall industry distribution, among the gold stocks recommended by the above-mentioned securities companies, 13 and 10 belong to the power equipment and food and beverage industries respectively; The distribution of gold stocks in pharmaceutical, biological, electronic, banking, computer, basic chemical and other industries is also relatively dense, with more than 5.
Some securities companies have also added ETF products to the gold stock portfolio. Debon securities is optimistic about the performance of intelligent vehicle ETF (515250. SH) in April. Debang Securities believes that the development of intelligent vehicles is the strategic direction of the global automobile industry in the new era. There will be new changes and trends in the development of intelligent vehicles in terms of technology, industry, application and development.
positive factors are gradually accumulating
From the market trend in the first quarter, after the continuous correction since the beginning of the year, the overall market trend has stabilized recently, which has boosted market confidence to a certain extent. In Everbright Securities Company Limited(601788) view, the fermentation of a series of risk factors such as the conflict between Russia and Ukraine is the main reason for the market fluctuation in March. At present, the positive factors in the market are gradually accumulating, which is expected to dominate the market and perform well in April.
Ping An Securities believes that the volatility of the capital market has increased since March, but the meetings of the two sessions and the financial committee have released strong signals of stable growth and stable expectation, which helps the market regain confidence. In this context, the current market has entered the grinding stage. In terms of structure, on the one hand, we should choose industries and companies with high performance boom, on the other hand, we also need to prevent companies with obvious deterioration of fundamentals.
For the meeting of the finance committee, China Galaxy Securities Co.Ltd(601881) Securities believes that it has further consolidated the policy bottom, but the trend reversal needs to wait for a further clear signal. From the perspective of fundamentals, China Galaxy Securities Co.Ltd(601881) Securities said that April is the intensive disclosure period of the first quarterly report of listed companies, and it is a consensus that the performance of upstream resource products is more deterministic, while the difference lies in whether the fundamentals of the high boom track can be positively verified. If the performance exceeds expectations, the market style may return to growth; If the performance is flat, the market sentiment is still difficult to improve.
Whether the recent trend of A-share continuous rebound will continue is also a key topic of concern to investors. In this regard, open source Securities believes that we should pay attention to this round of trend rebound and firmly optimistic about the periodic rising opportunities of "denominator end" valuation repair and even expansion brought by the liquidity shift of A-share market; As for the duration, Kaiyuan Securities believes that it may be affected by the expected tightening of overseas currencies, ranging from the end of April to May.
focus on steady growth and high prosperity
For the industry configuration in April, in addition to focusing on industries and individual stocks whose performance may exceed expectations, Everbright Securities Company Limited(601788) also recommends two main lines: one is the "steady growth direction", which suggests paying attention to the construction, building materials, banking, real estate and other industries in the traditional infrastructure direction, as well as the wind power, photovoltaic and other industries in the new infrastructure direction; Two, the direction of consumption is to see the high definition of Baijiu and pharmaceuticals, the household appliances and mass consumer goods that benefit from subsidy policy, and the consumer industries that benefit from the extinction of the epidemic, including aviation, airports, tourism and other industries.
Considering that the Federal Reserve's second interest rate hike and table reduction plan are likely to be implemented in early May, and the further rise of US bond interest rate will significantly suppress the valuation of equity assets, China Galaxy Securities Co.Ltd(601881) Securities believes that under the condition of peripheral risk disturbance, it is suggested that the allocation strategy should still focus on cost performance and look for high-quality targets with both attack and defense under the two main lines of stable growth and high prosperity.
For the future balanced allocation, Zheshang Securities Co.Ltd(601878) it is suggested that the balanced allocation can focus on steady growth, high dividend, price rise chain, new growth and travel chain: first, take "steady growth" as the bottom position, and the representative sectors include real estate, banking, construction, etc; Second, focus on high dividend varieties in the financial reporting season, represented by banks, communications and coal; Third, pay attention to the price chain, represented by non-ferrous metals, agriculture, forestry, animal husbandry and fishery, agrochemical products and supermarkets; Fourth, explore the "small and beautiful" represented by semiconductors, and deeply explore the direction of "real growth" under the background of the great differentiation of track stocks; Fifth, with the more refined and scientific epidemic prevention and control and the promotion of covid-19 specific drugs, we can pay attention to the repair opportunities after the weakening impact of this round of epidemic.
