《大行報告》瑞信升平安好醫生(01833.HK)評級至「中性」 目標價維持19元
瑞信發表報告,指平安好醫生(01833.HK)去年下半年收入按年跌5%至33.32億元人民幣,較該行預期低出5.7%;淨虧損1.83億元人民幣,較該行預期少69%,意味勝預期,主要由於其他收入及收益達2.9億元人民幣高過預期。公司產品組合繼續優化之下,下半年毛利率27.3%,與去年上半年相若,並較2021年同期的19.4%為高。
此外,該行認為平安好醫生去年下半年的醫療服務有良好復甦,並估計今年穩固增長,但今年保健服務收入仍可能下跌。
該行對平安好醫生今明兩年的淨虧損預測擴大11%,預期短期內的收入較低及管理費用增加,將被其他收益及收入更高所部分抵銷。目標價維持19元,評級由「跑輸大市」上調至「中性」。
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