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《大行》大摩料藥明康德(02359.HK)股價未來30日上漲 目標價93元 評級「增持」
摩根士丹利預計藥明康德(02359.HK)股價未來30天內將絕對上漲,因該公司公布2025年上半年收入約208億元人民幣,按年增長21%,調整後純利約63億元,按年增長44%,分別超出大摩預期約5%和15%。2025年次季收入和利潤按年增長分別達20%和48%,遠高於公司全年持續經營業務收入增長10%至15%的指引。 大摩認為,藥明康德H股相較於其他藥明系股票估值更具吸引力,2025年預期市盈率約18倍,低於藥明生物(02269.HK)的25倍及藥明合聯(02268.HK)的32倍。隨著更多業績披露(如訂單積壓、產能擴張、訂單進展)陸續公布,大摩預計估值折讓將收窄,而有關情景發生的概率約為70%至80%。 大摩基於藥明康德A股(603259.SH)目標價推算,予藥明康德(02359.HK)目標價為93元, 評級「增持」。
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