You are browsing the Hong Kong website, Regulated by Hong Kong SFC (CE number: BJA907). Investment is risky and you must be cautious when entering the market.
《大行》摩通首次覆蓋翰森製藥(03692.HK)予「增持」評級 目標價43元
摩根大通研報表示,首次覆蓋翰森製藥(03692.HK)H股予「增持」評級,以現金流折現率計,目標價43港元。 摩通表示,翰森近年已轉型爲創新驅動的領導者,創新產品銷售貢獻從2020年的18%激增至2024年的77%,年均複合成長率達57%;認爲翰森是中國生物製藥公司中最具優勢的企業之一,可受益於授權合作趨勢。 摩通表示,翰森製藥的支撐因素包括:堅定的研發承諾,依託其強大的商業化產品組合;涵蓋腫瘤學、免疫學、心血管代謝和神經學的多元化產品線;與跨國公司成功合作的往績。摩通預期,翰森製藥創新藥銷售及授權收入,將推動至2030年收入及淨利年均複合成長率分別達12%及15%。 在摩通涵蓋的製藥公司中,該行偏好翰森多於恆瑞醫藥(01276.HK)(600276.SH)(評級「中性」),因翰森製藥當前水平提供更具吸引力的風險回報(現估值相當於預測2026年市盈率36倍,相較恆瑞A股及H股分別達49倍及56倍)。
Follow us
Find us on Facebook, Twitter , Instagram, and YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!
Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.
uSMART
Wealth Growth Made Easy
Open Account