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《大行》大摩降錦欣生殖(01951.HK)評級至「減持」 升美麗田園醫療健康(02373.HK)目標價至35元
摩根士丹利發表報告指,內地醫院上半年面臨持續甚至加劇的報銷壓力,且情況無明顯的扭轉跡象。在自費醫療板塊中,視力矯正手術量在夏季高峰期放緩,醫療美容增長表現基本符合預期。 該行又指,依賴公共保險報銷的醫院在上半年持續面臨定價壓力,儘管在政策推動下應收賬款回收有所改善。消費醫療項目,如視力矯正手術,在第一季度強勁增長後,第二季度再次增長放緩,部分原因是治療需求透支。 該行將錦欣生殖(01951.HK)投資評級降至「減持」,因其在內地及海外設施均面臨長期壓力,亦預計華潤醫療(01515.HK)、海吉亞(06078.HK),以及在較小程度上固生堂(02273.HK)和愛爾眼科(300015.SZ)將面臨盈利壓力。與此同時,醫美和美容治療需求表現健康,預計支持美麗田園醫療健康(02373.HK)的盈利增長符合預期。 下表列出摩根士丹利對醫療股的最新投資評級及目標價: 股份│投資評級│目標價(港元) 固生堂(02273.HK)│增持│48元 海吉亞(06078.HK)│增持│19元 美麗田園醫療健康(02373.HK)│與大市同步│20元->35元 愛爾眼科(300015.SZ)│減持│11.5元人民幣 錦欣生殖(01951.HK)│與大市同步->減持│3.1元->2.6元 華潤醫療(01515.HK)│減持│3元
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