Zhongtai Securities: The highway sector is expected to welcome a value reassessment

Zhongtai Securities research report indicates that the profit model of listed highway companies is relatively stable, and the optimization of toll policies is expected to accelerate. Strong cash flow supports high dividends, highlighting the defensive attributes of the sector, which has strong allocation value under the expectation of declining long-term interest rates. In addition, with the in-depth promotion of central state-owned enterprises' market value management, high-quality undervalued targets are expected to welcome value re-evaluation