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Investing.com - JPMorgan has raised its price target on Shanghai MicroPort MedBot Group (HK:2252) to HK$42.00 from HK$30.90 while maintaining an Overweight rating.
The upgrade follows strong global order momentum for the medical robotics company, with cumulative surgical robot orders exceeding 170 units as of October 8, up from 150 in late August.
JPMorgan notes that Toumai installations are accelerating worldwide, with deployments in nearly 40 countries and major hospital systems driving robust adoption. Toumai cumulative orders have now reached 100 units.
The investment bank has raised its installed base forecast for FY25E to 105 units from 84 previously, primarily based on overseas growth and the assumption that orders convert to sales in less than a quarter.
JPMorgan expects a higher installed base and improved product mix, especially from disposables, resulting in a 30-46% upgrade to sales estimates and a 1-2 percentage point margin improvement.
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