UBS lowers PA GOODDOCTOR's target price to 16.5 yuan with a "Neutral" rating

AASTOCKS
2025.10.30 08:24

UBS published a research report stating that PA GOODDOCTOR (01833.HK) has completed its Strategic 2.0 transformation, predicting a compound annual growth rate of 12.7% for its revenue from 2024 to 2027, with room for improvement in profit margins. The bank has resumed coverage of the company, giving it a "Neutral" rating and lowering the target price from HKD 20 to HKD 16.5.

UBS expects that, leveraging PA GOODDOCTOR's comprehensive healthcare services and artificial intelligence user management capabilities, the company will continue to enhance its penetration rate among clients of the Ping An Group while driving growth in average revenue per user. It forecasts that the adjusted net profit margin will increase from 3.3% in 2024 to 9.5% in 2027, and has raised its earnings per share forecasts for 2025 to 2027 by 216%, 55%, and 32%, respectively

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