《大行》中金升榮昌生物(09995.HK)目標價至105.44元  中績符預期上調盈測
中金研究報告指出,榮昌生物(09995.HK)今年上半年實現營業收入10.9億元人民幣(下同),按年增長48%;歸母淨虧損4.5億元,按年收窄3.3億元;中期業績符合該行預期,預計公司核心產品適應症的不斷拓展將推動商業化持續加速。
中金基於公司半年報業績和達成對外授權預計獲得潛在合作款項,上調今明兩年盈利預測,從虧損9.15億元、虧損3.33億元至分別為虧損3.45億元、轉賺3,400萬元。
中金維持「跑贏行業」評級,考慮到公司產品商業化放量趨勢和泰它西普IgA腎病適應症拓展確定性增強,基於DCF估值,上調目標價10.6%至105.44港元,較當前股價有20%的上行空間。
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