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瑞銀:升藥明生物(2269.HK)目標價至167港元 評級“買入”
格隆匯 07-13 11:11

瑞銀將藥明生物(2269.HK)目標價由119港元升至167港元,維持其“買入”評級。

瑞銀髮布報告稱,上調藥明生物目標價主要考慮到美國10年期國債利率下降,將無風險利率假設從4%降低至3.5%;對全球生物藥物創新長期前景越來越樂觀;以及預計藥明生物在2019-24財年實現收入複合增長率35%和淨利潤複合增長率32%,同時藥明生物的市盈率增長率略低於全球同行平均水平,即股價尚未計入長期增長潛力。

瑞銀還指出,藥明生物下調2020年全年收入增長指引,主要由於公共衞生事件爆發,國內方面在第一季進行封鎖、由於美國旅行限制,潛在的合同項目延遲,以及歐美臨牀試驗延誤。瑞銀又指,截至上半年底,公司已簽署了約15個公共衞生事件藥物項目。

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