美银美林:降国药(1099.HK)目标价至38港元 评级“买入”
美银美林发表研究报告,指国药(1099.HK)
上半年收入升23.4%,胜预期6%,主因各项业务均表现良好,特别是设备方面表现稳健。另一方面,公司期内纯利率由2.7%降至2.5%,毛利率和经营溢利均见下跌,主要受到零售利润下降影响,预期收入增长和利润下降的情况会持续,因公司正在扩展。
该行降集团2019-21年每股盈利预期至分别2.11元、2.33元及2.56元人民币,维持“
买入
”评级,目标价由42港元降至38港元。
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