《大行》里昂一舉升榮昌生物(09995.HK)目標價至103元 維持「跑贏大市」評級
里昂研究報告指,榮昌生物(09995.HK)次季銷售額按年升39.1%,雖低於市場預期但超出公司全年指引。淨虧損按年收窄54.7%,好過市場預期。管理層維持全年銷售指引不變,料按年增逾30%,並預期2026年實現收支平衡。
業務方面,RC18與RC48的適應症正逐步擴展,公司新型免疫治療(I/O)及ADC研發管線正逐步成型。該行分別上調2025至27年淨利潤預測79.6%、106.9%及116.4%,將目標價由33.7元大幅上調至103元,維持「跑贏大市」評級。
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