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《大行報告》美銀證券降輝瑞(PFE.US)目標價至35美元 評級「中性」
阿思達克 12-14 16:14
美銀證券發表研究報告指,雖然輝瑞(PFE.US)收購癌症藥物公司Seagen的交易最終已獲批,有助消除市場長久以來的憂慮,但目前投資者似乎更關注公司明年增長指引,最新收入指引介乎585億至615億美元,經調整每股盈利介乎2.05至2.25美元,兩者均低於美銀及市場預期,反映出Seagen交易所帶來的攤薄效應及對利潤率的拖累。 美銀認為,Seagen擁有行業一流的ADC平台及產品組合,長遠而言將為輝瑞帶來龐大價值,但要自克服未來6至12個月的財務影響。 該行預測未來五年撇除COVID業務以外,輝瑞的收入將維持溫和單位數增幅,年均複合增長率料約3%,但其腫瘤業務或有較大增長空間。目前對輝瑞持觀望態度,認為商業化及提升營運效率需時數年,因此重申對「中性」評級,目標價從38美元下調至35美元。
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