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《大行報告》麥格理降微創醫療(00853.HK)評級至「跑輸大市」 目標價升48%至53.38元
阿思達克 06-04 12:10
麥格理發表研究報告,指微創醫療(00853.HK)旗下微創醫療機器人計劃今年赴港上市,或帶來短期提振。該行稱,微創估值或不受短期盈虧影響,研發開支增加或加強投資者對其創新及長期增長的信心,但該行對其新產品及銷售頂峰預測採取較審慎看法。繼去年錄1.91億美元虧損遜市場預期後,該行稱,過去12個月市場對其今明兩年預測大幅向下調整,今年由料賺5,700萬美元下修至料蝕1.06億美元,明年由料賺3,700萬美元下修至料蝕1.87億美元。即使如此,公司股價升了兩倍,即使對其開發中產品予以進取估值,該行對微創的估值仍較市場低出17%。

報告重整其對微創醫療估值模型,併合2025年預測市盈率及銷售頂峰預測,並忽略上市附屬的市值。該行下調對微創醫療今明兩年盈測分別337%及199%,惟計入開發中產品後,目標價升48%,由36元上調至53.38元,評級由「跑贏大市」一舉降至「跑輸大市」。

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