《高盛認股證牛熊證》 醫藥股受壓急挫 藥明創半年新低 留意藥明中期購28300、遠牛56248;復醫貼價購28115
正股表現:藥明生物(2269)上週五守穩在100元關口以上收市,跌約2.8%,惟今早繼續下跌。最低見92.05元,為超過半年低位。現報94.2元,跌約7.6%,目前為連續第4日下跌。
有券商指藥明生物管理層將今年收入及經常性溢利的增長指引由65%提升至75%,並將明年增長指引從40%提升至45%。該行料可刺激股價向好,並將藥明生物列為行業首選,給予目標價175元及「增持」投資評級。
復星醫藥(2196)上週五跌約0.7%,今早亦繼續下跌。早段低見32.55元的一個月低位後跌幅收窄。現報34.05元,跌約6.1%。有券商指復星醫藥今年第三季收入及淨利潤均勝市場預期。該行重申復星醫藥「買入」評級,目標價67.6元。
資金流向:觀察個股輪證資金流向,可見近期資金趁低部署藥明生物好倉,當中認購證於過去3個交易日皆錄得資金流入,合共約850萬元。牛證則於上週五繼續獲資金流入,有約70萬元,分散各收回區域。
復星醫藥方面,亦見近期資金持續部署認購證,上週5個交易日皆錄得資金流入,合共約80萬元。
產品選擇:投資者如看好藥明生物,認購證方面的中期選擇可留意屬低面值的藥明購28300。高槓桿選擇可留意年期約3個月的低街貨、低面值藥明購11638。牛證方面的近牛選擇可留意藥明牛59439,與現價有約10元收回距離。遠牛選擇可留意藥明牛56248,與現價有約15元收回距離。
藥明購28300,行使價125元,2022年05月23日到期,實際槓桿4.1倍,中期、低面值
藥明購11638,行使價128.98元,2022年02月18日到期,實際槓桿5.9倍,高槓桿、低街貨、低面值
藥明牛59439,收回價85元,行使價83.5元,換股比率100,槓桿比率8.0倍,相近收回價近牛中街貨最低
藥明牛56248,收回價80元,行使價78.5元,換股比率100,槓桿比率5.6倍,相近收回價遠牛中街貨較低
投資者如看好復星醫藥,貼價選擇可留意屬行使價34至45元間認購證中,槓桿最高的復醫購28115。價外選擇可留意年期約7個月的低面值復醫購27921。
復醫購28115,行使價44.93元,2022年06月23日到期,實際槓桿2.9倍,貼價、行使價34至45元間產品中,槓桿最高
藥明購27921,行使價51.93元,2022年05月24日到期,實際槓桿3.6倍,價外、低面值
註: 以上數據資料來自高盛認股證牛熊證網站https://www.gswarrants.com.hk/~
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