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《大行》里昂上調藥明康德(02359.HK)目標價至137.1元 美國減息將推動藥物研發投資
阿思達克 08-25 14:10
里昂指,藥明康德(02359.HK)盈利及估值對融資環境敏感。該行料市場會對該股增加槓桿,基於美國下半年潛在減息。該行預期全球生物科技公司將在下半年及明年對比上半年更有利融資環境下增加研發投資,以及藥廠增加研發以抒緩專利斷崖壓力,對藥明康德愈加有利。 該行上調對藥明康德今年至2027年收入預測0%至5%,以反映增長加快,預期經營溢利率擴張,由去年28.3%升至2027年34.2%。該行亦上調對公司今年至2027年淨利潤預測8%至20%,反映上半年投資收入、上調銷售預測及盈利率擴張。 里昂對藥明康德目標價由113.7元上調至137.1元,評級「跑贏大市」。
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