《大行报告》高盛上调联邦制药(03933.HK)目标价至6.5元 评级「中性」
高盛发表报告指,联邦制药(03933.HK)去年下半年销售为45亿元人民币,按年增长3.8%,表现逊於该行预期的48亿元人民币,主要由於中间体青霉素G钾有四个月的生产中断;及医院探访恢复缓慢和疫情後呼吸疾病减少,令抗生素销售下跌27.8%,对比2019年下半年为增长27%。
该行表示,联邦制去年下半年盈利则为4.98亿元人民币,表现符合该行预期的4.85亿元人民币,主因网上市场推广成本节约,令销售开支有更佳的控制;行政及财务成本减少;及税率下降。
高盛指,上调联邦制药目标价,由6.2元升至6.5元,维持「中性」评级,并调升联邦制药今明两年盈利预测分别16.2%及5.4%。
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