美丽田园医疗健康(2373.HK):内生扎实、外延提份额 上调目标价

华泰证券
27 Jun

我们认为公司核心竞争优势在于优质会员质量及全生命周期深度管理。以传统美容服务为基石,医疗美容服务/亚健康服务延长客户生命周期,客户高粘性;品牌势能强/卡位黄金地段/网络覆盖广泛,内生+外延持续提升份额,渠道话语权有望持续巩固提升,且有更多优质产业链资源合作机遇。公司正布局提高分红比例、股东结构优化、长效激励机制等战略举措,或有利于优化流动性,我们认为PE 估值存在修复空间。上调目标价,维持买入评级...

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