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RTNominal down97.550 -2.350 (-2.352%)
Research Report

28/01/2021 18:01

{I-bank focus}HSBC cuts PA Good Doctor (01833) to HK$115

[ET Net News Agency, 28 January 2021] HSBC Global Research cut its target price for PA
Good Doctor (PAGD) (01833) to HK$115 from HK$139 and maintained its "buy" rating.
After raising money last year, PAGD's management shared its revised investment plans in
an attempt to drive better long-term growth. Key initiatives include: (1) Strengthening
its team of doctors; (2) Expanding its internet hospital footprint; and (3) Widening and
deepening its customer base.
The research house said these new initiatives require an initial investment that will
have a negative impact on PAGD's breakeven timeline, pushing it out to FY2024 from FY2022
by HSBC's estimation.
Factoring in the increased spending, which should peak in 1H 2022, HSBC expects PAGD's
operating loss to widen to RMB1.1bn in FY2021 and RMB976m in FY2022. (KL)

Remark: Real time quote last updated: 12/04/2021 12:31
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