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大行評級|瑞銀:上調京東健康目標價至45港元 上調2025至27年收入預測
格隆匯 03-11 10:38
瑞銀髮表報告指,通過提高今年的再投資,該行相信京東健康希望擴大其在用戶心智中的領先優勢,並改善醫療保健服務和藥物零售的用戶體驗,這應會在其線下和在線競爭對手普遍收縮時推動市場份額增長。瑞銀預測京東健康在2024至2026年期間的營收年複合增長率爲15%,而同業的增長率則爲個位數至10%;上調對其2025至2027年收入預測介乎3%至4%,反映在線藥品滲透加快及市佔擴張。該行上調對其估值基礎,由預測2026年市銷率1.4倍上調至1.7倍(介乎互聯網板塊平均2.8倍,而藥房平均爲0.5倍之間),目標價由35.2港元上調至45港元,評級“買入”。
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