《大行报告》瑞信下调复星医药(02196.HK)目标价至44元 评级「跑赢大市」
瑞信发表的研究报告指,去年复星医药(02196.HK)收入及经常性净利表现大致符预期,期内受惠疫情带来的正面影响,医疗设备销售增长较快,估计今年疫苗及肿瘤科将为增长引擎,料疫苗今年将贡献收入及净利的37%及32%。另外受惠医美行业强劲复苏,料今年医疗设备亦将有增长。该行维持对公司「跑赢大市」评级,目标价由48元降至44元,以反映经营开支增加和2023年的预测。
该行指出公司目前拥有6,000人的销售团队,其中5,000人位於中国,其他则在国外,估计中国销售将细分为创新药、新零售及治疗领域为主,其中创新药销售团队己覆盖3,000所公立医院及1,000家药房,新零售团队将用於线上线下零售药房推广药物、保养品等。考虑到疫情改变了大众消费习惯,管理层计划扩充新零售团队,该行相信全国性销售团队有助加速新品推出。
Follow us
Find us on
Facebook,
Twitter ,
Instagram, and
YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the
uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!

Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.