《大行》野村升藥明合聯(02268.HK)目標價至73.7元 上半年業績勝預期
野村研究報告指,藥明合聯(02268.HK)上半年收入及盈利分別按年升62%及53%,至27億及7.46億元人民幣,均較該行預期高。強勁收入表現主要因全球抗體偶聯藥物(ADC)研發強勁及公司競爭力,管理層透露市佔率由2023年14.8%,升至去年至今年上半年22.2%。
另外,截至上半年末,公司擁有225個綜合項目,積壓訂單達13億美元,較去年末增加34%。管理層透露上半年新簽訂單按年增長逾48%。
該行將2025及26年的收入預測分別上調9.8%及14%,盈利預測分別上調7.3%及15.1%。維持「買入」評級,目標價由56.55港元升至73.7港元。
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