麥格理:料社保報銷將利於獲取更多市場份額,予平安好醫生(1833.HK)“跑贏大市”評級,目標價升至123港元
格隆匯3月8日丨麥格理髮研報指,將平安好醫生目標價由110港元上調11.8%至123港元,重申“跑贏大市”評級。報吿稱,平安好醫生去年下半年收入同比增長48%,較該行預期高出13%,其中線上醫療服務增長67%,主要受會員銷售增長所帶動。麥格理表示,平安好醫生管理層透露,互聯網醫院及可定製醫療保險合作等新計劃,相信可成為未來增長動力。平安好醫生現時已與120多家公立醫院簽約,合作建設互聯網醫院,麥格理預期,未來互聯網醫院提供的診斷服務可解決市場上逾30%醫療問題,獲得社保報銷將有利於獲取更多市場份額。此外,平安好醫生的流量轉向內生增長,積極擴展醫療團隊並控制費用水平,導致月活躍用户增長速度放慢,每位醫生每日診症次數也有所減少,但相信是改善用户體驗及付費用户轉化的積極表現。
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