【大和:下调国药控股目标价至22港元 增长能见度有限】大和发表报告,将国药控股的评级由“买入”降至“跑赢大市”,原因是增长能见度有限,且国内政策影响不一。该行将2024和2025年营收预测分别下调8%和11%,意味着按年增长持平或6%,将其目标价相应由26港元降至22港元,此相当于预测今年市盈率7倍。该行表示,对国药2024年第四季器械及零售药房业务的销售额保持审慎态度,预计集团整体收入和净利润将按年分别增长2%和下跌9%,达到1530亿元和27亿元。对于2025年,新管理层可能会在反腐、带量采购和保险预算控制下,专注于盈利增长和毛利率扩张。

金融界
23 Jan
大和发表报告,将国药控股的评级由“买入”降至“跑赢大市”,原因是增长能见度有限,且国内政策影响不一。该行将2024和2025年营收预测分别下调8%和11%,意味着按年增长持平或6%,将其目标价相应由26港元降至22港元,此相当于预测今年市盈率7倍。该行表示,对国药2024年第四季器械及零售药房业务的销售额保持审慎态度,预计集团整体收入和净利润将按年分别增长2%和下跌9%,达到1530亿元和27亿元。对于2025年,新管理层可能会在反腐、带量采购和保险预算控制下,专注于盈利增长和毛利率扩张。

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