贵州茅台：动态点评：短期扰动消退，稳价提升信心

Investment Rating - The investment rating for the company is "Accumulate (Maintain)" [2]. Core Views - Recent price weakness in Moutai has led to the suspension of large box Moutai releases, as well as the halting of aged and premium Moutai offerings. This is part of the company's strategy to stabilize prices and restore market confidence [3]. - The company has implemented several price support measures to boost market confidence, including the cancellation of large box releases and the suspension of certain product offerings. These actions are expected to quickly adjust the supply-demand relationship for key products and stabilize overall pricing [3]. - Short-term disturbances in the market have led to a supply-demand imbalance, primarily due to weak consumer demand and inventory adjustments. However, with the end of promotional activities and an increase in demand for events like graduation parties, product prices are expected to rise naturally [6]. Financial Summary - The company's total market capitalization is approximately 1,867.53 billion [5]. - The projected revenues for 2024, 2025, and 2026 are 1,768.20 billion, 2,053.62 billion, and 2,367.13 billion respectively, with corresponding net profits of 880.04 billion, 1,025.91 billion, and 1,181.09 billion [10][11]. - The expected EPS for 2024, 2025, and 2026 are 70.06, 81.67, and 94.02 respectively, with P/E ratios of 21.08, 18.08, and 15.70 [10][11].