Goldman Sachs Lowers Tigermed Target Price to HK$59.4, Keeps "Buy" Rating

Stock News05-04

Goldman Sachs has issued a research report revising its earnings forecasts for Tigermed (03347, 300347.SZ). The firm reduced its profit estimates for 2026, 2027, and 2028 by 12%, 1%, and 4%, respectively, citing increased investment in artificial intelligence. The target price for Tigermed's H-shares was lowered from HK$61.4 to HK$59.4, while the A-share target price was adjusted from RMB 76.2 to RMB 75.2. Both ratings were maintained at "Buy." According to the report, Tigermed's first-quarter revenue increased by 15.2% year-over-year to RMB 1.8 billion, exceeding the firm's expectations, driven by a recovery in clinical trial services supported by domestic innovative drug research and development activities. However, adjusted net profit for the period was RMB 120 million, falling short of the expected RMB 140 million, primarily due to slower-than-expected gross margin recovery. The overall gross margin declined to 26.6%, influenced by the execution of older contracts, exchange rate factors, and ongoing pricing pressures in certain business segments.

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