小摩:予微创医疗(00853)“增持”评级 目标价升至7.8港元

智通财经网
11 Nov 2024

智通财经APP获悉,小摩发布研究报告称,在微创医疗(00853)附属心脉医疗(688016.SH)公布第三季业绩发表后,将母企微创医疗H股目标价由7.5港元升至7.8港元,评级“增持”。主动脉支架业务部门的胸腔/腹腔主动脉支架在终端用户层面分别降价约40%,以及20%至35%,预期心脉医疗承受了大部分的冲击,将转化为其出厂价格下降25%至30%。

不过,该行指心脉医疗改善营运效率方面的努力将有助长期利润率,将长期净利润率预测由23%大幅上调至约30%。因此,该行亦相应上调微创医疗长期净利润率预测,由原先11%向上修订至12%。该行维持认为微创医疗可以达成2024至2026年主要经营目标。该行提及,管理层曾承诺今明两年收窄亏损,2026年有望扭亏赚9,000万美元。

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