《大行报告》瑞信升药明生物(02269.HK)目标价至107元 评级「跑赢大市」
瑞信发表研究报告指,药明生物(02269.HK)计划斥资1.5亿欧元,向拜耳(Bayer)收购德国生物药原液制造工厂的设施资产MFG19,计及今年4月同样向拜耳购入的德国药品生产厂房DP7,显示了药明生物对全球扩张的决心,预期两家工厂预计将於2021年投产。
该行指出,药明生物预期在疫情影响下,2021财年销售额将按年增长50%,2022财年则增长40%至50%,预期此次限购可助其在中长期内提升盈利能力。
近期药明股价表现强劲,瑞信相信可能是由於国家医保药品目录新一轮谈判气氛改善,带动到整个板块上扬,考虑到短期盈利预测有所调整,将今年每股盈利预测下调1.3%,并将2021至2022年每股盈测上调5.3%及4.6%,目标价由86.67元升至107元,维持「跑赢大市」评级,相信研发外判业务需求强劲。
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