瑞信:上調錦欣生殖(1951.HK)目標價至13.54港元 評級“跑贏大市”
瑞信發表研究報告指,錦欣生殖(1951.HK)日前斥資3.15億元人民幣收購武漢黃浦醫院75%股權,認為交易條件吸引,公司可藉此進軍輔助生育(IVF)服務滲透率較低、市場分散的湖北地區。報告指出,武漢黃浦醫院在末來3年將每年可進行3,000個IVF治療週期,並預期於2022年達到收支平衡,淨利潤率維持20%。
該行指,錦欣生殖收購武漢黃浦醫院後,將斥資6,000萬至7,000萬元人民幣翻新該醫院,預期每年可進行IVF治療週期將增至6,000多個,料於今年至2023年為公司貢獻2,300萬至1.37億元人民幣收入。
該行續指,收購為公司提供長期增長機會,加上其行業領先地位,維持“
跑贏大市”評級,目標價由12港元升至13.54港元,但將2021至2022財年盈利預測下調5.8%及5.3%。Follow us
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