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《大行報告》野村下調藥明康德(02359.HK)目標價至171.11元 評級「買入」
野村發表研究報告指,藥明康德(02359.HK)中期收入按年增長69%,盈利按年升73%,毛利率受匯兌因素影響下跌0.7個百分點至36%。第二季公司收入按年增長66%,盈利增長155%,主要由於期內錄得13億元人民幣其他收入。 野村指出,上半年化學業務收入增長102%,表現強勁;而測試業務表現則較弱,上半年收入僅增長24%。 計及良好的成本控制及非經常性收入增加,野村將藥明康德2022至2023財年淨利潤預測上調6%及8%,但考慮到港元兌人民幣走強,將目標價從181.12元下調至171.11元,維持「買入」評級,及為CRO(合同研究組織)行業首選。
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