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《大行報告》匯豐研究上調阿里健康(00241.HK)目標價至6.8元 評級「買入」
阿思達克 12-01 10:19
匯豐研究發表報告,預計阿里健康(00241.HK)將保持盈利,但短期內淨利潤率的進一步提高可能有限,相信非藥品和數字營銷會是新的增長動力。目標價由6.5元升至6.8元,維持「買入」評級。 匯豐研究指,很高興看到阿里健康實現盈利,但由於12月1日開始實行的線上藥品銷售新規,對收入帶來短期挑戰,因此維持對其2023至2025財年的收入預測不變。由於收入結構向高利潤率的服務產品轉移,預計毛利率將保持平穩。考慮到營運槓桿,將淨利潤預測提高78%至861%。中期而言,阿里健康或將加大對新項目的投資,預計銷售和研發費用增長將重新加速。
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