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研報掘金丨中金:調高石藥集團目標價至8.6港元,預計成藥業務Q2開始走出低谷
中金髮表報告指,石藥集團(1093.HK)首季業績符預期,期內成藥業務持續承壓,但預計第二季開始走出低谷,環比持續改善,今年有望實現更多數量的重磅BD交易落地,續強化股東回報。上調該集團目標價26.5%至8.6港元,維持“跑贏行業”評級。中金預測石藥全年研發費用在55億元人民幣以上,期待高研發投入下可實現更多創新產品管線。中金維持其今明兩年盈利預測不變,分別爲54.33億元人民幣及63.07億元人民幣,當前股價對應2025及2026年市盈率分別爲15倍及12.7倍。
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