野村:重申藥明康德(2359.HK)買入評級 目標價270港元
藥明康德(2359.HK)上週發表去年全年初步財務數據。野村發表研究報吿指,收入按年升約28%,形容公司錄強勁的升幅,預期公司將能繼續利用其優勢來擴大實驗室測試及臨牀研發外包等業務,料其美國實驗室服務業務將會從疫情中回覆,並於2021-23年加速增長,維持目標價270港元,重申買入評級。
野村預期,公司中國實驗室服務業務的年複合增長率為26%,主要受其國際業務所帶動,公司在全球臨牀前研發外包市場正不斷提升其市佔率,指其新藥開發服務將成公司的增長動力,預料相關業務將於2023年貢獻6.39億元人民幣。
野村續指,其早前收購的瑞士庫威生產基地將有助全球業務擴張,預期公司於2021-23年的收入年複合增長率將為31%。

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