瑞银:首予微创机械人-B(2252.HK)买入评级 目标价43港元

金融界网站
Jan 05, 2023

  瑞银发表研究报告指,微创机械人-B(2252.HK)为中国领先的手术机械人公司,在中国、美国和欧盟拥有三款商业化产品,产品线覆盖全面,销售及研发团队经验丰富,与内地同业相比具优势,预料在当局的国产替代政策下,微创机械人可挑战跨国企业在中国市场的主导地位。

  该行指,MedBot第二代透脉机械人获批及新产品发布将成为公司今年主要催化剂,预测2022至2024年收入复合年增长率达907%,首次给予微创机械人-B“买入”评级,目标价43港元。现股价相信于今年市销增长率(PSG)0.23倍,而市场上缺乏国产手术机械人同行比较,虽然较创新医疗技术H股(0.17倍)有溢价,但与全球同业(0.88倍)比较存在折让,认为市场并未充分体现其领先地位和强劲的增长潜力。

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