大和:上調維亞生物(1873.HK)目標價至12港元 評級“買入”
大和發表研究報吿指,維亞生物(1873.HK)的業務整合步入正軌,醫藥合同定製研發生產企業(CDMO)和服務換股權(EFS)平台之間的初步協同作用,料CDMO產能將在今年增長60%。該行將集團目標價由10.9港元上調至12港元,重申“買入”評級。
該行表示,對比其EFS業務,集團藥物發現服務的客户羣相對較大,有逾500名客户,預期集團的原始業務平台將有大量且持續的CDMO需求。另外,鑑於創新藥CDMO項目的高毛利率,該行認為朗華製藥的盈利能力正在改善。
集團預期,朗華今年的產能將擴大60%,2023年將增加一倍以上。該行鑑於其現有設施的高利用率,預料新增產能將很快為朗華帶來可觀的增量收入,相信朗華有望在未來兩年內滿足集團的發現服務和EFS平台預期激增的CDMO需求。隨着愈來愈多的外部金融機構加入集團的EFS公司,該行預計其EFS業務的市場情緒將有所改善。

Follow us
Find us on
Facebook,
Twitter ,
Instagram, and
YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the
uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!

Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.