《大行報告》招商證券下調藥明康德(02359.HK)目標價至113元 評級「增持」
招商證券發表研究報報告指,藥明康德(02359.HK)第三季收入僅按年增長0.3%,表現遜預期,經調整非國際會計準則下純利按年增長21%,符合預期。
管理層將本年度收入增長指引,從按年提升5%至7%,下調至增長3%至5%,以反映早期藥物研發階段需求較弱。招商證券亦因應收入增長不似預期,將今明兩年盈利預測下調2%,目標價由120元下調至113元。
該行建議投資者未來應關注公司服務價格變化、早期藥物研發階段需求趨勢、管理層對來年的經營指引,以及GLP-1業務的發展,維持「增持」評級。(gc/u)
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