《大行報告》華興證券下調藥明生物(02269.HK)目標價至29.09元 去年盈利或受公允價值損失拖累
華興證券發表報告,大幅下調藥明生物(02269.HK)目標價47%,由54.88元下調至29.09元,但維持「買入」評級。
報告指,藥明生物2023年盈利或因公允價值變動損失而受拖累,加上中美地緣政治緊張局勢加劇,以及生物安全法案的提出,可能中長期內壓制相關公司的估值。
該行又提到,美國議員Mike Gallagher於2024年1月提交的生物安全法案草案,旨在限制與特定生物技術供應商的合作,其中提及了華大集團及其子公司華大智造、 Complete
Genomics和藥明康德(02359.HK)。藥明生物的作為藥明康德的姊妹公司,股價在法案提交當日下跌了18%。儘管生物安全法案成為法律可能需要數年時間,但中美的緊張關係和對美國核心原材料、技術、市場的依賴,可能對中國醫藥公司帶來不可預見的風險。
基於生物醫藥行業的整體表現不佳,恆指生物醫藥和納斯達克生物醫藥指數都跑輸大市,華興證券將藥明生物2023-2025年的歸母淨利潤和每股盈利預測分別下調28%、31%和35%。
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