《大行報告》美銀證券上調阿里健康(00241.HK)目標價至6.71元 評級「買入」
美銀證券發表報告指,阿里健康(00241.HK)2023財年中期收入按年增長23%,基本符合預期。直接銷售收入增長24%,主要來自於健康意識增強、疫情和人口老齡化的大環境下,處方藥銷售額提升及年活躍用戶增長,以及阿里健康積極改善用戶體驗與效率。
美銀指,阿里健康已與數百家藥企深化合作,共設有17家直營健康中心,雖然目前平台收入仍然相對疲軟,按年表現持平,但在今年「雙十一」活動中銷售額增長有所加快。
該行又指出,阿里健康持續提升供應鏈水平,於亞洲最大的數字單體藥品倉庫已投用,公司整體營運效率提高,成本結構改善,中期S&M費用按年減少13%,預計成本控制措施將推動利潤空間進一步擴大。
因此,美銀證券表示基本維持對阿里健康收入增長前景,並將2023財年經調整淨利潤預測大幅上調至7億元人民幣,相應亦提升目標價至6.71元,重申「買入」評級。
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