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《大行報告》瑞銀下調復宏漢霖(02696.HK)目標價至38.2元 評級「買入」
阿思達克 10-04 10:35
瑞銀髮表研究報告,維持對復宏漢霖(02696.HK)的「買入」評級,認爲公司目前仍被低估,但考慮到集中採購的影響,相應下調預測。 該行指出,化學仿製藥已有五輪集中採購,平均降價幅度爲70%,最高降幅達到95%,範圍亦已延伸至冠脈支架、人工關節、體外診斷試劑、醫療器械等其他領域。由於市場對生物仿製藥集中採購的擔憂,作爲仿製藥龍頭,復宏漢霖的股價已下跌近50%。 瑞銀認爲,雖然目前當局尚未公佈生物仿製藥的集中採購時間表,但有部分產品已符合標準,故同意獲納入的機會較大,潛在集中採購將令復宏漢霖的生物仿製藥價格及利潤率面臨壓力,因此下調2021至2023年每股盈利預測至虧損0.84、0.18及0.01元人民幣,目標價由56.5元下調至38.2元。
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