[ET Net News Agency, 16 January 2020] Macquarie Research raised its target price for
Shandong Weigao Group Medical Polymer (01066) to HK$11.2 from HK$8.1 and maintained its
"outperform" rating.
The research house lifted its 2019-21 recurring EPS forecasts by 13-16% to reflect
stronger sales growth on market consolidation and margin expansions.
It said domestic ortho players continue to enjoy strong sales growth in 2019 off a high
base in 2018 across the board. As the largest domestic Ortho brand, Weigao's Ortho sales
grew 30% in 1H 2019, higher than its full-year guidance of 16-18% and industry growth of
15-20%
Macquarie expects Weigao's Ortho sales to continue to grow at a 25% CAGR in 2019-2021
and Ortho OPM to expand to 33% in 2021 from 30% in 2018 on a larger revenue scale. (KL)
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01066 WEIGAO GROUP
Nominal 
4.760 -0.020 (-0.418%) Others
16/01/2020 09:35
{I-bank focus}Macquarie ups Weigao Group (01066) to HK$11.2
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