《大行》花旗升康哲藥業(00867.HK)目標價至16.6元 評級「買入」
花旗發表報告指,康哲藥業(00867.HK)上半年收入40億人民幣(下同),按年增長10.8%,符合預期;純利為9.32億人民幣,按年增長3.1%。銷售費用比率下降至35.6%;研發費用增加92%至2.03億,原因是增加了對創新藥物的投資。
花旗指,集採的影響已逐漸消失,創新應該成為康哲藥業的增長動力,料未來三年將有超過10個產品獲批。康哲藥業亦致力拓展東南亞市場,目標於2027年達至收支平衡。花旗升康哲藥業目標價由12.6元升至16.6元,此按現金流折現率作估值,評級「買入」。
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