《大行報告》大和升國藥(01099.HK)目標價至26元 上季盈利勝預期
大和發表研究報告指,國藥(01099.HK)上季盈利表現超出預期,主要來自毛利率較預期高、以及非經營性收入與較低財務開支的帶動。上季收入按年增長3.4%,對比去年第三季按年持平,反映公司收入重回增長軌道。
大和指,集團去年第四季毛利率壓力似乎較去年首三季減輕,預計2023至2026年間毛利率可持續改善,並將2024至2025年每股盈利預測上調3%至6%,認為除帶量採購的影響外,行業反貪腐監管並未造成重大不利影響,將目標價微升至26元,維持「買入」評級。
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