小摩：上调微创机器人-W 装机量预测 目标价升至 42 港元
JP Morgan released a research report stating that it has raised the target price for MicroPort Medbot-B from HKD 30.9 to HKD 42, valuing it based on discounted cash flow rates. The investment rating is "Overweight," reaffirming the stock as the top choice among Chinese medical technology stocks, and indicating that the recent price pullback presents a good buying opportunity given that the fundamental factors remain unchanged. MicroPort Medbot's global order momentum remains strong, with over 170 surgical robot orders accumulated as of last Wednesday (the 8th), up from 150 at the end of August. The report noted that the installation of Toumai (four-arm laparoscopic surgical robot) is accelerating globally, with rapid international expansion, applied in nearly 40 countries and major hospital systems, driving strong adoption. The bank has raised its forecast for the number of installations completed this year from 84 to 105, primarily due to growth overseas and the assumption that orders can be converted into sales within less than a quarter, based on approximately 100 cumulative orders for Toumai. There is an expectation of improved installation volume and product mix, as well as an anticipated gross margin improvement of 1 to 1.5 percentage points
According to Zhitong Finance APP, JP Morgan has released a research report stating that it has raised the target price for MicroPort Medbot-B (02252) from HKD 30.9 to HKD 42. This valuation is based on the discounted cash flow rate, with an investment rating of "Overweight," reaffirming that this stock is the top choice among Chinese medical technology stocks, and indicating that the recent price pullback presents a good buying opportunity given that the fundamental factors remain unchanged.
MicroPort Medbot's global order momentum remains strong, with over 170 surgical robot orders accumulated as of last Wednesday (the 8th), up from 150 at the end of August. The report indicates that the installation of Toumai (four-arm laparoscopic surgical robot) is accelerating globally, with rapid international expansion, applied in nearly 40 countries and major hospital systems, driving strong adoption.
Based on approximately 100 cumulative orders for Toumai, the bank has raised its forecast for the number of installations completed this year from 84 to 105, primarily due to growth overseas and the assumption that orders can be converted into sales within less than a quarter. There is a higher installation base and product mix improvement, along with an expected gross margin improvement of 1 to 1.5 percentage points
