Morgan Stanley: Raises MicroPort Medbot-B target price to HKD 30.9 and upgrades rating to "Overweight"

JP Morgan released a research report stating that MicroPort Medbot-B's order trend in the first half of the year was stronger than expected, indicating a structural shift in the company's growth and profitability drivers. Considering the accelerated growth of the company's overseas business, profit expansion driven by consumables sales, and effective cost control, it raised its target price from HKD 19.1 to HKD 30.9 and upgraded its rating from "Neutral" to "Overweight." During the period, the company's revenue grew by 77% year-on-year, and net losses narrowed by 59%; overseas sales increased by 189%, accounting for 58% of total revenue, reflecting the status of overseas business as its core engine. The report cited guidance from MicroPort Medbot's management, targeting approximately 85% revenue growth this year and further narrowing net losses, while strictly controlling capital expenditures between RMB 5 million and 10 million, with a goal of free cash outflow of less than RMB 200 million