《大行報告》野村下調石藥集團(01093.HK)目標價至10.63元 評級「買入」
野村發表研究報告指出,考慮到石藥集團(01093.HK)去年第四季原料藥業務產品均價下調趨勢,以及受疫情影響,該行將公司去年收入及盈利預測,分別下調2%及微升0.3%,至305億及59億元人民幣,意咪着按年增長達9.6%及3.4%,但均較市場預期低出2%。
單計去年第四季,該行預期石藥收入按年跌2.4%至71億元人民幣,另估計其神經系統藥品、抗腫瘤產品及原料藥銷售按年各增長5%、跌15%及增長9%,至分別21億、16億及11億元人民幣。期內毛利率及經營利潤率各爲72.7%及21.9%,與第三季水平大致相若,預測純利按年增長1.4%至13億元人民幣。該行維持對石藥的「買入」評級,目標價由11.27元降至10.63元。
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