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《大行報告》裏昂下調泰格醫藥(03347.HK)目標價至152元 評級「買入」
裏昂發表報告,下調泰格醫藥(03347.HK)目標價,由188.73元降至152元,評級維持「買入」。該行指泰格醫藥過去半年股價調整,反映市場對中國醫藥創新展望的謹慎態度,但認爲市場低估泰格醫藥的領導地位,預期公司將強化其於受託研究機構部門的主導地位。該行同時上調對公司2021至2023年收入預測7%至19%。 該行認爲泰格醫藥可透過其具經驗的臨牀測試運作隊伍、豐富項目經驗及強勁往績增加市佔,縱使生物科技股估值去年下半年調整,同期強勁的中國醫護融資意味市場對探索高質量項目的興趣。該行亦見到臨牀測試外判需求持續強勁,泰格醫藥持續的醫藥臨牀測試項目從218項增至491項,公司的高毛利率新業務亦將成爲新增長動力,受惠於客戶需求多元。
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