《大行報告》大摩降復星醫藥、三生製藥、東陽光藥及華潤醫療評級至「與大市同步」 調整醫藥股目標價
摩根士丹利發表研究報告,指在今件上半年健康護理板塊出現顯著資金輪轉後,更新其偏好次序。本年至今MSCI中國健康護理指數累升16.3%,屬MSCI中國指數各系列中表現最佳。該行在早前發表的2021年展望中,將翰森製藥(03692.HK)、信達生物(01801.HK)及藥明生物(02269.HK)列為首選。藥明生物本年累升27.7%,料隨著更多項目進入商業化階段,將有進一步上行空間。信達生物本年累升7.6%,但隨著旗下PD-1藥品獲准用於肝癌治療,及可參與未來集中採購談判,其重大拖累因素已經消除。
該行下半年偏好次序輕微修訂,首選創新藥/生物科技、隨後依次為研發、儀器、醫院、疫苗及醫藥、數碼健康、分銷、仿製藥、原料藥,最後為中成藥。該行下調一些未來12個月缺乏催化劑及估值已見合理的股份投資評級至「與大市同步」,包括復星醫藥(02196.HK)H股、三生製藥(01530.HK)、東陽光藥(01558.HK)及華潤醫療(01515.HK)。該行並下調一些核心業務或見倒退的股份評級至「減持」,包括綠葉製藥(02186.HK),並調整醫藥股目標價。詳細投資評級及目標價見另表。
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 this article is for reference only. It does not constitute an offer, solicitation, recommendation, opinion or guarantee of any securities, financial products or instruments.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.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance.