《大行報告》瑞銀下調康希諾生物-B(06185.HK)目標價至361元 評級「買入」
瑞銀發表研究報告指,康希諾生物-B(06185.HK)公布第三季業績,收入及盈利均低於市場預期及該行預測。
公司解釋主要是受到庫存負面消息及原材料報廢的影響,管理層預期有關影響不會延續至第四季,又指出9月份起生產已恢復正常,每月產能為約2,000萬劑,預期至12月份更可提升至每月4,000萬劑。
瑞銀表示,考慮到首九個月收入低於預期及來自全球其他疫苗製造商的潛在激烈競爭,將康希諾2021至2023年中國新冠相關產品銷售額預測削減至24億、28億及24億元人民幣,並將海外銷售額預測削減至30億、54億及96億元人民幣。
該行並將康希諾生物2021至2023年每股盈利預測下調40%、54%及21%,以反映新冠疫苗收入預測下調,目標價由400元降至361元,維持「買入」評級。
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