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《大行報告》里昂降阿里健康(00241.HK)目標價至5.6元 反映攤薄影響
里昂發表報告指,阿里健康(00241.HK)9月底止2024財年上半年業績穩固,總收入按年增長13%,經調整淨利潤率達到5%。此外,阿里健康向母公司阿里-SW(09988.HK)收購阿里媽媽醫療健康類目的獨家營銷權等,代價爲135億元,包括向母公司發行新股和現金。 里昂預計阿里健康利潤增量可觀,但在競爭和宏觀經濟存在不確定性的情況下,大部分利潤可能會重新投資於增長。該行將阿里健康2024和2025財年淨利潤預測分別上調17%和26%,考慮到攤薄影響,將目標價從6.4元下調至5.6元。維持「買入」評級。
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