華安證券5月7日(ri)研報指出，五一(yi)節(jie)后兩(liang)個交易日(ri)結(jie)構(gou)(gou)性行(xing)(xing)(xing)情延(yan)續(xu)節(jie)前慣性，極(ji)致(zhi)演繹，“中(zhong)特估(gu)(gu)”相(xiang)關(guan)(guan)金融股(gu)漲(zhang)幅擴大、傳(chuan)媒繼(ji)續(xu)大漲(zhang)，同(tong)時(shi)TMT延(yan)續(xu)分化調整(zheng)、新能源(yuan)持續(xu)探底(di)。展望(wang)后市(shi)，內(nei)部(bu)經(jing)(jing)濟(ji)復蘇斜率(lv)有(you)所放緩，但長(chang)端(duan)(duan)利率(lv)新一(yi)輪下行(xing)(xing)(xing)背景下流動性寬裕(yu)偏積極(ji)，同(tong)時(shi)外部(bu)非農超預(yu)期(qi)帶來(lai)美(mei)國經(jing)(jing)濟(ji)短期(qi)衰退擔(dan)憂減弱(ruo)，又不會(hui)導致(zhi)市(shi)場加(jia)息預(yu)期(qi)產生質變，因此整(zheng)體環境下，預(yu)計(ji)仍(reng)將維持震(zhen)蕩格局不變，優選結(jie)構(gou)(gou)性投資機(ji)會(hui)為主(zhu)。配置上建(jian)議關(guan)(guan)注(zhu)(zhu)兩(liang)條主(zhu)線及中(zhong)特估(gu)(gu)主(zhu)題：一(yi)是(shi)(shi)經(jing)(jing)濟(ji)復蘇重點轉向(xiang)需求端(duan)(duan)，建(jian)議重點關(guan)(guan)注(zhu)(zhu)消費風格的(de)(de)食品飲料、醫藥生物、美(mei)容護(hu)理；二(er)是(shi)(shi)TMT產業行(xing)(xing)(xing)情未休，仍(reng)可(ke)優選方向(xiang)，建(jian)議在通信和(he)電子中(zhong)繼(ji)續(xu)挖掘(jue)機(ji)會(hui)。同(tong)時(shi)也(ye)可(ke)關(guan)(guan)注(zhu)(zhu)中(zhong)特估(gu)(gu)概念下的(de)(de)催化行(xing)(xing)(xing)情，低估(gu)(gu)值且行(xing)(xing)(xing)業基(ji)本面改善的(de)(de)銀行(xing)(xing)(xing)和(he)有(you)望(wang)受(shou)一(yi)帶一(yi)路帶動的(de)(de)中(zhong)字頭建(jian)筑和(he)建(jian)材。