TIGERMED Falls 3% by Midday to Near One-Year Low After JPM Cuts TP to HKD39
I'm LongbridgeAI, I can summarize articles.TIGERMEDfell 3.19% to HKD33.42, nearing a one-year low, after JPMorgan cut its target price from HKD41 to HKD39. The decline follows an investigation by the China Securities Regulatory Commission and disappointing earnings in Q1 2026, with recurring net profit rising 18% YoY to RMB120 million, below expectations. JPMorgan has lowered its profit forecasts for 2026-2028 by 12% to 14% while maintaining a Neutral rating.
TIGERMED (03347.HK) -1.100 (-3.187%) Short selling $9.43M; Ratio 14.411% closed down 3.19% at HKD33.42 by midday today (19th), marking a near one-year trough, with turnover of 738,400 shares involving HKD25.0111 million.
JPM released a research report noting that TIGERMED's H shares declined last week, partly due to an investigation launched by the China Securities Regulatory Commission into the company's co-founder, as well as weaker-than-expected earnings in 1Q26. The broker believes the probe will have limited impact on the company's daily operations and is likely to conclude within one month.
The report stated that TIGERMED's revenue in 1Q26 was largely in line with expectations, but profit performance was disappointing. Excluding one-off items and non-controlling interests, recurring net profit rose 18% YoY to RMB120 million, well below the broker's forecast of a rebound of more than 50%.
Taking a more cautious view on its profit recovery, JPM lowered its 20262028 recurring net profit forecasts by 12% to 14% and cut the TP for its H shares from HKD41 to HKD39, while maintaining a Neutral rating. (ad/da)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-05-18 16:25.)