《大行》招銀國際:看好消費醫療估值修復機會 薦中生(01177.HK)信達生物(01801.HK)等6家醫藥股
招銀國際報告指,該行統計A股及港股上市393間醫藥公司上半年業績,平均收入增長1.6%,平均淨利潤下跌3.2%,收入和利潤較去年全年均有所惡化。該行認為行業整體業績改善仍需時間,國內集採政策優化,對創新藥械的支持政策持續落地,以及創新藥和器械出海,全球生物醫藥融資改善,將驅動醫藥行業的業績修復。
該行認為,受惠創新藥出海交易、國內集採政策優化等積極因素,醫藥行業有望持續上漲。短期而言,由於市場對出海交易的頻次和交易規模預期較高,創新藥估值持續攀升,需理性看待股價上升空間。展望創新藥持續上漲動力將主要來自海外合作夥伴對已授權管線的臨床推動。此外,該行看好消費醫療的估值修復機會。推薦三生製藥(01530.HK)、巨子生物(02367.HK)、藥明合聯(02268.HK)、固生堂(02273.HK)、中生製藥(01177.HK)及信達生物(01801.HK)。
股份│投資評級│目標價
三生製藥(01530.HK)│買入│37.58元
巨子生物(02367.HK)│買入│71.3元
藥明合聯(02268.HK)│買入│74元
固生堂(02273.HK)│買入│48.28元
中生製藥(01177.HK)│買入│9.4元
信達生物(01801.HK)│買入│109.48元
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