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《大行報告》瑞信下調復星醫藥(02196.HK)目標價至44元 評級「跑贏大市」
阿思達克 03-31 14:16
瑞信發表的研究報告指,去年復星醫藥(02196.HK)收入及經常性淨利表現大致符預期,期內受惠疫情帶來的正面影響,醫療設備銷售增長較快,估計今年疫苗及腫瘤科將為增長引擎,料疫苗今年將貢獻收入及淨利的37%及32%。另外受惠醫美行業強勁復甦,料今年醫療設備亦將有增長。該行維持對公司「跑贏大市」評級,目標價由48元降至44元,以反映經營開支增加和2023年的預測。

該行指出公司目前擁有6,000人的銷售團隊,其中5,000人位於中國,其他則在國外,估計中國銷售將細分為創新藥、新零售及治療領域為主,其中創新藥銷售團隊己覆蓋3,000所公立醫院及1,000家藥房,新零售團隊將用於線上線下零售藥房推廣藥物、保養品等。考慮到疫情改變了大眾消費習慣,管理層計劃擴充新零售團隊,該行相信全國性銷售團隊有助加速新品推出。

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