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《大行報告》瑞信升藥明生物(02269.HK)目標價至107元 評級「跑贏大市」
阿思達克 12-23 09:49
瑞信發表研究報告指,藥明生物(02269.HK)計劃斥資1.5億歐元,向拜耳(Bayer)收購德國生物藥原液製造工廠的設施資產MFG19,計及今年4月同樣向拜耳購入的德國藥品生產廠房DP7,顯示了藥明生物對全球擴張的決心,預期兩家工廠預計將於2021年投產。

該行指出,藥明生物預期在疫情影響下,2021財年銷售額將按年增長50%,2022財年則增長40%至50%,預期此次限購可助其在中長期內提升盈利能力。

近期藥明股價表現強勁,瑞信相信可能是由於國家醫保藥品目錄新一輪談判氣氛改善,帶動到整個板塊上揚,考慮到短期盈利預測有所調整,將今年每股盈利預測下調1.3%,並將2021至2022年每股盈測上調5.3%及4.6%,目標價由86.67元升至107元,維持「跑贏大市」評級,相信研發外判業務需求強勁。

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