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00867 CMS
RTNominal down13.840 -0.180 (-1.284%)
Research Report

19/03/2021 09:40

{I-bank focus}Goldman lifts CMS (00867) to HK$14.43

[ET Net News Agency, 19 March 2021] Goldman Sachs lifted its target price for China
Medical System (CMS) (00867) to HK$14.43 from HK$10.2 and maintained its "neutral" rating.
The research house said CMS's 2H 2020 sales of Rmb3.8bn came ahead of Goldman's estimate
of Rmb3.5bn, but the net profit of Rmb1.25bn was generally in line. In 2021, Goldman
expects revenue from the company's existing business to grow at 13% with aesthetics and
consumer health contributing meaningfully (Rmb720mn or 8.4% of total sales in 2021).
Goldman sees the dermatology/aesthetics and consumer healthcare businesses as potential
drivers for the company's future growth although their commercial visibility remains to be
seen given the competition in both fields. It raised its 2021/22 EPS forecasts by
+15.2%/+20.6% to reflect the aesthetics and consumer health expansion. (KL)

Remark: Real time quote last updated: 27/09/2021 17:59
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