美銀美林:升石藥(1093.HK)目標價至23港元 評級“中性”
美銀美林發表報告指,石藥(1093.HK)
第三季收入及盈利表現強勁,收入按年增長27.4%至56億元人民幣,其中成藥板塊表現尤其強勁,收入增幅達31.9%。毛利率亦自67.8%大幅提升至73%,主要由於高收入貢獻的腫瘤藥佔成藥比重自去年同期的17%提升至28%,加上石藥實現規模經濟效益。
基於業績表現,該行上調石藥現金流預測,目標價亦自應自16.1港元上調至23港元,惟2022年及2023年將為專利到期的高峯,股價本年至今亦已升近一倍,維持“
中性
”評級。
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