《大行報告》里昂升藥明生物(02269.HK)評級至「買入」 指上月單月新簽41個項目勝預期
藥明生物(002269.HK)今早股價曾抽高15%,最新報30.95元升10.5%。里昂發表報告表示,藥明生物去年12月意外地下調對2023至2025財年管理層指引後,公司最新公布去年新增項目達132個,即2023年12月單月簽下了41個項目,優於市場預期。公司表示2024年目標是新增110個項目(原來為80個),以反映料今年第二季需求潛在強勁復甦。
藥明生物預計2024年上半年經調整盈利實現增長,略上調2024年全年指引,收入和調整後收入從低十位數(low-teens)上升至中十位數(mid-teen)。
里昂表示,鑑於2024年的新專案指引以及自2023年12月以來客戶信心的改善,以及最近的股價調整,當前股價的下行風險有限,該行將藥明生物投資評級從「跑贏大市」上調至「買入」,維持目標價37港元,相當於預測市盈率23倍及動態市盈率1.2倍,料其2025財年至2027財年每股盈利複合增長率19%。
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