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《大行報告》花旗下調翰森製藥(03692.HK)目標價至25元 評級「買入」
花旗發表報告指,翰森製藥(03692.HK)上半年收入按年增2%至45億元人民幣,純利跌1%至13億元人民幣,毛利率由去年同期的91%降至88.1%。期內,創新藥銷售按年升20%至28億元人民幣,佔總收入的61.8%,而去年同期則佔52.3%。銷售費用比率由去年上半年的38%降至37%,研發成本比率擴至20.6%,而去年同期則為16.7%。 該行分別下調集團2023至25財年各年收入預測6%、5%及5%,並降期內每股盈測分別8%、7%及7%,以反映最新的銷售趨勢。該行將公司目標價由28元下調至25元,維持「買入」評級。
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