《大行報告》大摩降麗珠醫藥(01513.HK)評級至「減持」 目標價下調至22.55元
摩根士丹利發表報告,指麗珠醫藥(01513.HK)整體業績在疫情期間保持韌性,但目前已經確定了幾個風險因素,預示在不久將來可能出現增長減速,包括去年基數較低導致的收入增長不可持續、收入增長集中部分產品、研發管道的延遲阻礙了新的收入增長來源,將評級由「與大市同步」降至「減持」,目標價由35元下調至22.55元。即使估值看似不高,但股份流通量低增加了交易難度。
考慮復甦增長良好,大摩輕微上調麗珠醫藥今年盈測0.8%,以反映其現有產品在國家醫保藥品目錄(NRDL)更新,短期有溫和上行空間。
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