大行评级丨高盛：下调国药控股目标价至19.07港元，预期未来数季收入将逐步复苏

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高盛发表研报指，国药控股2026年首季销售额约1404亿元，按年微跌0.6%，略低于该行预期，主要由于行业环境持续受压。不过收入趋势自2024年第四季起已出现企稳，该行预期未来几季将逐步复苏，预测今年第二、三、四季销售分别按年跌0.1%、增0.3%及增0.9%。毛利率进一步降至6.44%，反映带量采购(VBP)范围扩大及国家医保目录(NRDL)进一步降价的影响，部分被严格的成本控制所抵销。基于业绩...

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