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《大行报告》麦格理降微创医疗(00853.HK)评级至「跑输大市」 目标价升48%至53.38元
阿思达克 06-04 12:10
麦格理发表研究报告,指微创医疗(00853.HK)旗下微创医疗机器人计划今年赴港上市,或带来短期提振。该行称,微创估值或不受短期盈亏影响,研发开支增加或加强投资者对其创新及长期增长的信心,但该行对其新产品及销售顶峰预测采取较审慎看法。继去年录1.91亿美元亏损逊市场预期後,该行称,过去12个月市场对其今明两年预测大幅向下调整,今年由料赚5,700万美元下修至料蚀1.06亿美元,明年由料赚3,700万美元下修至料蚀1.87亿美元。即使如此,公司股价升了两倍,即使对其开发中产品予以进取估值,该行对微创的估值仍较市场低出17%。

报告重整其对微创医疗估值模型,并合2025年预测市盈率及销售顶峰预测,并忽略上市附属的市值。该行下调对微创医疗今明两年盈测分别337%及199%,惟计入开发中产品後,目标价升48%,由36元上调至53.38元,评级由「跑赢大市」一举降至「跑输大市」。

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