大摩:普遍上调医药股目标价 予药明生物(2269.HK)等药企“增持”评级
大摩发布报告称,认为内地医药行业面对的政策挑战及压力将持续到今年,主因药品4+7采购计划扩展实施、下一阶段仿制药集中采购几乎会有落败者,及高端医疗消耗品也集中采购,预期今年对仿制药企业会是颠簸的一年。
该行预计,医药股今年的定价能力会持续受压,股份估值倍数的扩展空间有限,特别是仿制药企业。同时,零加成、药物收入控制及报销控制将继续限制医院的财政表现。
该行称,普遍上调对医药股目标价,并称喜好业务模式对有关挑战更具抵抗力的企业,例如研发服务公司如药明生物(2269.HK)、药明康德(2359.HK)及泰格医药。该行维持对药明生物的“增持”评级,目标价由94港元升至124港元;药明康德评级也维持“增持”,目标价由87.86港元升至124港元。
该行还表示,创新药企如果可给出产品线进度,该行认为,也可受惠于监管环境利好,包括恒瑞医药、翰森制药(3692.HK)及信达生物(1801.HK),其中翰森制药目标价由29港元升至30.3港元,信达生物目标价由35港元升至36港元,两企评级均为“增持”。
Follow us
Find us on
Facebook,
Twitter ,
Instagram, and
YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the
uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!

Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.