Lyon: Lower Hangzhou Tigermed Consulting (03347) target price to 59.9 Hong Kong dollars and maintain "outperform" rating.

Lion released a research report, stating that it has lowered its earnings forecast for Hangzhou Tigermed Consulting (03347) in the fiscal year 2027 by 7% to reflect the increased uncertainty in long-term investment returns. The bank maintains a "outperform" rating for Hangzhou Tigermed Consulting, but has lowered its H-share target price from HK$68.2 to HK$59.9, and its A-share target price from RMB 81.9 to RMB 72. Although Hangzhou Tigermed Consulting's order situation has improved, the market is more concerned with the company's order conversion revenue efficiency and investment realization capabilities. As short-term positive factors have already been reflected in the stock price, it is believed that the risks and returns have reached a balance.