研報掘金丨中金:上調藥明生物目標價至19.09港元 維持“跑贏行業”評級
中金髮表報吿指,藥明生物公佈,愛爾蘭疫苗工廠與默沙東達成協議,默沙東將收購藥明海德在愛爾蘭的疫苗工廠,總交易金額約為5億美元。公司預計本次交易將在上半年滿足慣例交割條件完成。中金認為通過本次交易,藥明海德能進一步提升資產效率和利潤率,聚焦蘇州基地為更多客户提供疫苗CDMO服務,同時,有利於增強公司的資金流動性以進行產能擴建以及股票回購。同時認為本次交易也證明公司有能力按照全球疫苗巨頭的國際標準建設和營運世界領先的覆雜疫苗生產設施。該行維持藥明生物2024年和2025年盈利預測不變,並首次引入2026年盈利預測46.93億元。該行維持“跑贏行業”評級,考慮到醫藥板塊系統性上修,上調其目標價15%至19.09港元。
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