大行評級|美銀:大幅上調藥明康德H股目標價至86.2港元 評級一舉升至“買入”
美銀證券發表報告,將藥明康德A股及H股的投資評級一舉上調至“買入”,H股目標價由31.6港元大幅上調至86.2港元。該行上調藥明康德今年至2027年收入預測2%至11%,毛利率預測從2025年起上調4個百分點。該行指,變動基於美國《生物安全法》本年至今進展仍然停滯,公司強勁訂單紓緩法案對今年業務增長影響的憂慮。公司退出WuXi Advanced Therapies英美業務,以及美國國土安全委員會主席由反對《生物安全法》人士擔任,令該行對公司前景更樂觀。此外,中國及海外生物科技融資見正面訊號,公司作爲中國創新藥行業代理股,受惠中國市場市盈率重估。此外,公司更集中股東回報,提出總派息38億元及10億元A股回購。
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