《大行報告》中金料美倡新冠疫苗專利豁免存不確定性、量產壁壘高 料對內地廠商影響有限
中金發表報告表示,印度已連續多日報道多例新增新冠病例,該行認為海外疫情仍面臨蔓延的壓力,上周受美國總統拜登宣布新冠疫苗專利的豁免影響,新冠疫苗相關企業出現一定程度的回調。
該行認為,上述政策的落地和實施,仍需美國和其他國家以及WTO的逐步協商,存在一定不確定性;同時,相關疫苗大規模生產工藝存在較高壁壘,需要較長時間的摸索,原材料仍較為緊缺。因此,該行認為該政策對國內主要新冠疫苗廠商影響有限,仍可持續關注新冠疫苗持續接種放量帶來的投資機會。
中金指,伴隨上市公司年報、首季報披露完畢,市場進入業績真空期,缺乏股價推動因素,該行認為在目前估值仍然不低的背景下,存在一定的下行風險。但從中長期看,創新、消費、國際化仍將是優質企業發展的方向,該行建議在估值回落時加強配置,享受企業長期的成長空間。短期由於市場流動性及情緒仍處於高位,各類熱點層出不窮,建議投資者謹慎對待。
該行指旗下海外醫藥股的投資組合,包括藥明生物(02269.HK)、阿里健康(00241.HK)、信達生物(01801.HK)、康方生物(09926.HK)、啟明醫療(02500.HK)、海吉亞醫療(06078.HK)及威高股份(01066.HK)。
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