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《大行報告》麥格理一舉升威高股份(01066.HK)評級至「跑贏大市」 目標價上調65%至21.07元
阿思達克 06-07 15:30
麥格理發表研究報告,一舉升威高股份(01066.HK)投資評級由「跑輸大市」升至「跑贏大市」,上調今明兩年盈測分別2%及9%,考慮採用更高估值基礎,目標價大升65%,由12.8元上調至21.07元。該行稱,考慮威高多元化及具韌性的組合,定價政策對其低端醫療消耗品的影響看法更為正面。即使在近期骨科中央採購潛在押後的官方公布刊發前,公司指引今年有18%至20%增長,對毛利率沒影響。相反,該行所覆蓋其餘三家設備公司對此仍未有指引,或仍產生重大虧損。

報告稱,醫藥包裝料支持未來兩年逾30%增長,受惠預充新冠疫苗小瓶強勁需求。威高目標2022年產能達11億支。以銷售均價每支3元人民幣計,銷售料達33億元人民幣。更確定的長期盈利展望促使該行上調對其包裝及侵入性業務估值基礎,至分別明年預測市盈率35倍及30倍。

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