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一文了解券商於藥明生物(02269.HK)公佈業績後最新目標價及觀點
藥明生物(02269.HK)今早(24日)高開2.3%後,盤中曾高見44.95元一度彈高至9.4%,最新報44.45元升8.2%。花旗發表報告表示,藥明生物上半年收入按年增17.8%至85億元人民幣,好於今年6月投資者日指引的低雙位數增長。收入增長主要由非新冠疫情項目收入按年增長59.7%推動。該行予其「買入」投資評級,目標價105元。 藥明生物昨日(23日)收市後公佈今年中期收益84.92億人民幣,按年增加17.8%。錄得純利22.67億人民幣倒退10.6%,每股盈利55分,經調整純利按年升0.1%至28.38億人民幣,不派中期息。期內,毛利35.61億人民幣上升4.3%;毛利率由去年同期47.4%降至41.9%,主要由於新生產設施預期的產能爬坡影響,內地生物技術融資放緩及新項目數量減少等,保持自由現金流爲正。集團未完成訂單總量亦由2022年6月底的184.67億美元增長至今年6月底的201.08億美元,其中未完成服務訂單增長至135.62億美元,而未完成潛在里程碑付款訂單由56.58億美元增長至65.46億美元。 【收入優於預期 非新冠業務強】 野村表示,藥明生物中期收入按年升17.8%至85億人民幣(其中非新冠業務收入按年升60%至80億元人民幣),略優於該行原預期83億人民幣,增長的主因是公司在提升的技術平臺的支持下提供了更全面的服務、許可證收入的增加,以及快速擴大產能。該行指業績符預期,重申「買入」評級及目標價82.69元,潛升幅101%。該行指公司今早九時半召開分析員會議,將注當前的競爭格局及管理層指引更新等。 摩根士丹利表示,藥明生物旗下非新冠業務收入增長強勁,上半年總體收入高於預期7%,其中非新冠業務收入按年升59.7%達79.64億人民幣,經調整盈利按年持平,維持「增持」評級及目標價115.36元。 -------------------------------------- 下表列出3間券商對建行投資評級及目標價: 券商│投資評級│目標價(港元) 摩根士丹利│增持│115.36元 花旗│買入│105元 野村│買入│82.69元 券商│觀點 摩根士丹利│上半年盈利增長符預期,收入增長主因非新冠疫情項目增長所推動 花旗│上半年收入按年增17.8%,顯着高於6月投資者日指引低雙位數增長 野村│上半年非Covid-19項目收入增長略勝預期 (ta/w) ~
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