JP Morgan raised the target price of MEDBOT-B (02252) to $42 and rated it as "neutral".

JPMorgan Chase released a research report stating that it has raised the gross margin assumption for MEDBOT-B (02252) between 2026 and 2028 by 5 to 6 percentage points, maintaining revenue forecast for MicroPort-Siasun Robot & Automation in 2026 at 1.4 billion yuan (higher than market consensus), with the target price raised from 41 Hong Kong dollars to 42 Hong Kong dollars, rating it as "neutral", and considering it as the top choice in the medical technology industry. The report pointed out that the revenue guidance for MicroPort-Siasun Robot & Automation in the 2026 fiscal year marks a clear shift from "commercial validation" to "profit release", with management setting clear revenue, profit, and cash flow targets. The company expects revenue of about 1.1 billion yuan this year (same below), nearly doubling year-on-year, while achieving a balanced net profit to profit, as well as positive free cash flow, indicating entry into the operating leverage stage. As of early April, the company had installed 23 units of the da Vinci Surgical System Siasun Robot & Automation and held 86 units in backlog orders. Management guided for the installation of approximately 103 to 113 units in the first half of the year, at least 200 units for the whole year, and indicated that the delivery bottleneck in the second half of last year had been resolved. The overseas market will continue to be the core growth engine, with demand spreading across Europe, Asia (excluding China), and Latin America. In addition, the firm reiterated its "neutral" rating for Shenzhen Mindray Bio-Medical Electronics (300760.SZ) and MicroPort (00853); A "neutral" rating for Shanghai MicroPort Endovascular MedTech (Group) Co., Ltd. (688016.SH) and a "sell" rating for Shanghai Microport EP Medtech (688351.SH). The firm stated that MicroPort has a diversified platform base, with part of this year's net profit supported by non-recurring items, even as revenue growth accelerates for MicroPort-Siasun Robot & Automation; MicroPort's fundamentals have improved and the quality of profits is gradually improving. JP Morgan has lowered MicroPort's target price from 18.2 Hong Kong dollars to 18 Hong Kong dollars.