《大行报告》汇丰研究升石药(01093.HK)目标价至19.8元评级「买入」
汇丰环球研究发表报告指,虽然石药(01093.HK)旗下去年销售额达17亿元人民币的药品欧来宁(Oulaining)被列入今年7月1日发布的首份全国重点监控目录,但由於集团目前重磅药品的市场渗透率可进一步提高,及今年下半年新药品销售提升,因此该行仍然看好集团的全年业绩表现。
该行上调对石药的股份目标价,由19.2元升至19.8元,评级维持「买入」,但今年至2021年的销售预测分别下调6%、4.8%及2.3%,以反映在全国重点监控目录下欧来宁的销售可能出现下滑。而今明两年的纯利预测亦分别下调3.9%及1.5%。
不过,该行预计,集团在今年至2021年的纯利年均复合增长率仍将达24%,并相信投资者过度担心恩必普(NBP)的专利到期,以及新产品延迟至2022年後。
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