《大行報告》匯豐研究下調翰森製藥(03692.HK)目標價至18元 評級「買入」
匯豐發表評級報告指,在創新藥銷售支持下,翰森製藥(03692.HK)去年收入及盈利分別增14%及6%,超出該行預期。
該行表示,由於仿效藥在第三方帶量採購(VBP)的影響,將公司今年及明年收入預測分別下調2%及13%。考慮到支持內部產品線擴展,令研發成本增加,該行亦將公司今年及明年純利預測下調4%及15%。
該行將其目標價由38.1元下調至18元,相當於預測今年22倍市盈率,意味着目前股價有37%上行空間,維持其評級爲「買入」
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