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大行評級 | 高盛:首予鉅子生物(2367.HK)“買入”評級 目標價38港元

格隆匯12月8日丨高盛發報吿指,鉅子生物(2367.HK)是全球領先的重組膠原蛋白產品公司,具多項膠原蛋白產品,製造產能亦強。更重要的是,公司透過主要的2C醫用敷料及旗下護膚品牌可復美與可麗金,使更多的膠原蛋白科技獲變現。而在內地增長及多樣化的美容市場(尤其是功能性護膚品)中,相信鉅子生物憑藉其成分優勢,可進一步獲得市場份額。

該行預期,鉅子生物於2021至2026財年的銷售年均複合增長率達33%,或在專業皮膚護理的銷售年均複合增長率達34%,相對於同期內地B2C化粧行業的年均複合增長率料為6.8%。對公司首予“買入”評級,目標價38港元。該行料鉅子生物2022至2024年各年收入分別21.59億、29.6億及39.42億元人民幣,每股盈測分別93分、1.16元及1.42元人民幣。

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