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《大行報告》摩通升藥明康德(02359.HK)目標價至200元 評級「增持」
阿思達克 01-15 13:58
摩根大通發表研究報告,最近與藥明康德(02359.HK)管理層會面,去年藥明康德股價升幅逾100%,與行業均值相若,但大幅跑贏MSCI中國健康護理指數去年62%的升幅。整體而言,全球外包需求料維持強勁。公司產能使用率續升,成為增長主要樽頸,因此,藥明康德管理層料今年資本開支錄顯著增長。

該行料藥明康德未來三至五年增長持續強勁,主因行業理想環境;全整合終端對終端服務;良好行業聲譽及往績;強勁執行力。該行維持予藥明康德「增持」評級,目標價由143元升至200元。

報告補充,即使去年新冠疫情干擾及工廠關閉,去年首三季藥明康德收入及經調整純利仍按年升27%及33%,該行料藥明康德去年全年收入升28%,今年加快至30%,大幅高於市場估算的27%增幅。

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