光大证券晨会速递-20251219

Group 1: Core Insights - The report highlights a significant housing reform plan proposed by Trump, focusing on reducing mortgage costs, activating supply markets, and lowering interest rates, although the effectiveness may be limited due to political constraints [2] - Salted Fish's (盐津铺子) 2025 restricted stock incentive plan emphasizes profit as the primary assessment metric, which is expected to enhance employee morale and performance [3] Group 2: Company Research - The 2025-2027 EPS forecasts for Salted Fish are projected at 2.88, 3.30, and 3.89 yuan respectively, with current P/E ratios of 25, 21, and 18 times [3] - The report maintains a "Buy" rating for Salted Fish, indicating a positive outlook on its stock performance [3] Group 3: Market Data - The A-share market indices showed mixed performance, with the Shanghai Composite Index closing at 3876.37, up by 0.16%, while the Shenzhen Component Index fell by 1.29% to 13053.97 [4] - In the overseas market, the Dow Jones closed at 47885.97, down by 0.47%, and the S&P 500 decreased by 1.16% to 6721.43 [4]