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麥格理:大升石藥(1093.HK)目標價至25.92港元 仍為行業首選
格隆匯 11-19 11:27

麥格理髮表研究報告指,雖然石藥集團(01093.HK)今年以來股價已升約84%,而同期MSCI中國指數升幅僅10%,但仍將其目標價大幅上升50%至25.92港元,重申為行業首選,主要看好公司轉型至創新藥企方面的大志。該行對其2019及2020年盈利預測反映按年增長分別為30%及21%,主要受腫瘤科藥物帶動。該行相信創新藥及仿製藥可助產品組合多樣化及改善利潤,並有助強化投資者信心,且支持進一步估值重評。

報告指,石藥管理層目標是在2019至2022年推出70種新產品,當中有15至20只產品銷售有潛力達至逾10億元人民幣(下同),大有逾50種銷售有潛力達至逾1億元,此外公司研發強勁,相關規模按年增長64%,佔收入大約9%,相信可支持30只新藥在未來三年進入臨牀階段。

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