报告指出，近期微创医疗销售额预测的降低被研发和营运开支的加速下降所抵销，该行预测集团2026年的收支平衡维持不变，2024-2026年的每股盈测分别调整，2024及2025年上调6.1%及0.4%，2026年调低7.1%。Microport (00853) fell more than 4%, as of the time of publication, falling 4.41%, at HKD 4.77, with a turnover of HKD 9.824 million.
According to the WiseFinance APP, Microport (00853) fell more than 4%, as of the time of publication, falling 4.41%, at HKD 4.77, with a turnover of HKD 9.824 million.
On the news front, Morgan Stanley released a research report stating that it lowered its earnings forecast for Microport for the years 2027-2030 by 5-9%, in order to reflect conservative assumptions for growth and profit margins for those years under continued pricing pressure. It also raised the discount rates for various business segments in the SOTP valuation from 10-11% to 11-13.5%. Therefore, Morgan Stanley lowered Microport's target price by 14%, from HKD 7.4 to HKD 6.4. It maintains a rating of "in line with the market".
The report points out that the recent reduction in Microport's sales forecast was offset by the accelerated decline in R&D and operating expenses. The bank predicts that the group's break-even point for 2026 will remain unchanged, and adjusts the earnings forecast per share for 2024-2026. It raised the forecast for 2024 and 2025 by 6.1% and 0.4% respectively, and lowered it by 7.1% for 2026.
