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《大行》里昂:復星醫藥(02196.HK)員工持股計劃提升增長能見度 目標價上調至29.6元
阿思達克 08-28 10:45
里昂報告指,復星醫藥(02196.HK)第二季業績具韌性,收入按季升7.2%,淨利潤按季升22.5%,主要受惠於創新產品銷售強勁表現。該行認為新的員工持股計劃(ESOP)為其增長提供更大能見度,並部分紓緩領導層變動後的市場擔憂。 該行指,公司近期為高層管理人員推出ESOP計劃,該計劃主要條件與今年至2027年創新藥銷售目標和淨利潤目標掛鉤,意味兩個指標均實現20%年複合增長率。公司亦成功完成兩款自主研發分子的對外授權交易。 該行上調對復星醫藥今年至2027年核心利潤預測介乎約13%至21%,H股目標價由15.6元上調至29.6元,維持「跑贏大市」評級。
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