《大行報告》瑞銀上調中生製藥(01177.HK)目標價至11.5元 評級「買入」
瑞銀發表報告指,中生製藥(01177.HK)今年上半年收入按年增加1%,純利則按年下跌16%,收入增長緩慢主要由於疫情影響中國的醫院就診,該行預期就診數目在今年下半年會有改善。
瑞銀下調中生製藥今年至2022年的收入預測2%至3%,以反映疫情造成的影響,股份評級維持「買入」,目標價由8.8元上調至11.5元,反映集團的藥品線豐富,於今年至2022年預期會每年推出20至30種藥品,因此將其增長率假設由3%提升至4%。
該行提到,中生製藥現時估值相當於明年及2022年預測市盈率分別42倍及37倍,低於恆瑞醫藥(600276.SH)的57倍及47倍,認為中生正加快推出藥品,市場並未反映其產品線的改善。
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