Jill Wu, an analyst from CMB International Securities, has initiated a new Buy rating on Angelalign Technology Inc. (6699).
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Jill Wu’s rating is based on Angelalign Technology Inc.’s strong market position and growth prospects. The company has maintained its leadership in China’s clear aligner market, holding a 42% market share in 2023, which is expected to grow further due to rising incomes and aesthetic awareness among consumers. Despite macroeconomic challenges, Angelalign has expanded its reach to lower-tier cities and the children/adolescents market, ensuring steady growth.
Furthermore, Angelalign’s rapid globalization efforts have significantly contributed to its positive outlook. The company has established a global supply chain and local teams in key markets, such as Europe and Brazil, which has resulted in increased overseas revenue. Additionally, Angelalign’s commitment to technology innovation and digitalization has created high competitive barriers, enhancing its product offerings and doctor partnerships. These factors, combined with a favorable valuation, support the Buy rating with a target price of HK$69.55.
According to TipRanks, Wu is a 4-star analyst with an average return of 9.5% and a 52.83% success rate. Wu covers the Healthcare sector, focusing on stocks such as BeiGene, CSPC Pharmaceutical Group, and Thermo Fisher.