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《大行》匯豐:預期京東健康(06618.HK)強勁增長持續 升級至「買入」 目標價65元
匯豐環球研究發表研報指出,京東健康(06618.HK)今年第二季業績超出預期,廣告和藥品增長均受益於京東健康強大的供應鏈能力。儘管京東健康持續投資於線下和人工智慧,但匯豐預期公司增長勢頭將持續,利潤率仍將保持穩定。 匯豐將京東健康目標價從49元上調至65元,意味着約19%的上行空間;評級從「持有」 升級至「買入」,因公司不僅實現了超出預期的收入增長,有利的收入組合轉變和較預期好的履約成本控制也有助於推動強勁的盈利展望。 匯豐將京東健康2025至2027年收入預測上調3%至6%,並根據更好的利潤率展望,上調淨利潤8%至18%。該行認爲,隨着中國醫療改革的持續推進下,京東健康處於有利位置,能捕捉線上醫療保健需求的增長。 匯豐又預計,京東健康2025年全年營收成長率爲 21%,調整後淨利率爲8%。
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