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《大行報告》美銀證券上調微創醫療(00853.HK)目標價至29.5元 評級「買入」
阿思達克 02-10 10:04
美銀證券發表研究報告指出,微創醫療(00853.HK)的管線產品於2022至2023年進展穩健,於今年1月,其Galaxy Insight關節鏡系統在中國獲批;EasyFinder診斷導管獲美國食品藥監局批准;其冠狀動脈旋磨術亦被納入內地優先評審。 對於內地因疫情封城及於去年第四季重新開放對微創醫療的影響,該行引述公司管理層認為,與去年第二季上海封城相比,對於公司第四季的製造及分銷影響微乎其微。不過,隨著去年12月的重新開放,很多醫院手術(矯形器、支架和經導管主動脈瓣植入術)均受到影響及延期。儘管如此,管理層相信業務恢復較快,醫院手術量已恢復至正常水平的85%至90%。 至於冠狀動脈血管支架的帶量採購(VBP),該行引述微創醫療管理層指出,隨著新的價格上升,毛利率亦相對有所提高,管理層對冠狀動脈血管支架的全球市場有高度期望,預期該領域的收入貢獻由目前的約10%,未來兩年將增加至約20%水平。 此外,該行對微創醫療的目標價由25.5元上調至29.5元,鑑於其業務發展步入正軌,重申「買入」評級,相信公司將繼續受益於重新開放後的擇期手術需求復甦。
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