《大行报告》美银证券上调昭衍新药(06127.HK)目标价至204.3元 评级「买入」
美银证券发表研究报告指,昭衍新药(06127.HK)首季业绩符合预期,收入按年增长29.9%,毛利增长36.6%,毛利率按年提升2.5个百分点,撇除汇兑收益及非经常性损益後,经调整净利润按年增长46%至2,150万元人民币。
该行指,昭衍新药收入及盈利内生增长率已分别达到49%及65%,撇除收购Biomere的因素後,首季经调整净利润内生增长率更逾倍,认为毛利率表现理想,预期加上Biomere,未来增长势头强劲。
美银指,苏州生产设施明年将再扩建9,000平方米,上调长期销售预测,预计2021至2023年销售额将达到15.63亿、22.55亿及31.55亿元人民币,目标价将由184.3元升至204.3元,重申「买入」评级。
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