Since January 20th, both Ali Health and Ping An Good Doctor have experienced sharp rises, and their stock prices have exceeded or approached the 12-month average target price of the securities firm.
On March 26, the shares of Ali Health and Ping An Good Doctor increased for the third consecutive day. As of press time, Hong Kong’s Hang Seng Index fell 0.79%, Ali Health’s gain was 5.25%, and Ping An Good Doctor’s rose 4.31%.
Since the outbreak, the development prospects of the Internet healthcare industry have been optimistic for many brokers. Now Morgan Stanley (Morgan Stanley) has joined this bullish camp.
On March 25, Morgan Stanley first covered Ali’s healthy and safe doctors, and they all gave a “super-match” rating. It believes that both companies are leaders in the online sales of pharmaceuticals in China and have strong shareholder support.
Morgan Stanley analyst Yolanda Hu and others said in the report that the new crown pneumonia epidemic will not only stimulate short-term demand for Internet medical services, but also promote more favorable policies. In the next 6-12 months, the online sales policy for prescription drugs may be relaxed. The online consultation may also be supported by medical insurance. China Internet The medical industry has not experienced strong growth in the past few years.
Specifically, Morgan Stanley expects that Alibaba Health will benefit from the steady growth of online transactions, capital from Alibaba Group Injection of production and higher operating leverage; span> The income of Ping An Good Doctor is expected to achieve a compound annual growth rate of 33% in 2019-2022, and reach a break-even point in 2022 .
As of press time, Bloomberg data shows that Ping An Good Doctor has 13 “buy” ratings, no “hold” or “sell” ratings, and a 12-month average target price of HK $ 84.99; Alibaba Health There are 9 “Buy” ratings, and also do not have “Hold” or “Sell” ratings, with a 12-month target price of HK $ 15.5.
However, it should be noted that since January 20, the share prices of Ali Health and Ping An Good Doctor have risen sharply, and the stock prices have exceeded or approached the 12-month average target price of the brokerage firm.
Alibaba Health’s highest share price during the year 16.54 Hong Kong dollars, Ping An Good Doctor’s share price reached a maximum of 82.2 Hong Kong dollars during the year. Both stock prices have now fallen with the Hong Kong Hang Seng Index.
Hong Kong Hang Seng IndexThe broader market fell about 20%, Ali Health’s stock price fell nearly 20%, and Ping An Good Doctor’s stock price fell 16%.