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《大行》匯豐研究降海吉亞醫療(06078.HK)目標價至15元 下調評級至「持有」
匯豐研究發表報告指,海吉亞醫療(06078.HK)上半年收入及純利分別按年減少17%和36%,業績遜於該行及市場預期,主要是由於監管收緊的影響較預期強勁,併爲其增長前景增添不確定因素。 報告提到,海吉亞醫療正在積極探索新的商業渠道,包括自費醫療服務、商業保險合作夥伴關係、海外市場拓展和AI輔助診斷。該行認爲這些或成爲公司的長期增長動力,並使收入來源多樣化。然而,這些商業模式仍處於探索階段,對盈利的貢獻仍有不確定,因此短期內的可見性依然有限。 該行下調海吉亞醫療2025至27年的純利預測26%至31%,以反映對其主要醫院業務的增長前景和網絡擴張的看法較爲保守,但仍然預期公司2025至27年的每股盈測年均複合增長率約爲10%。該行將公司目標價由19元下調至15元,評級由「買入」降至「持有」。
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