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研報掘金丨東方證券:藥明康德Q2收入和利潤環比均穩步提升,予“買入”評級

東方證券研報指出,外部環境雖有挑戰,藥明康德(603259.SH)上半年仍保持穩健經營,二季度收入和利潤環比均穩步提升。截至24年6月末,公司在手訂單431億元,剔除新冠商業化訂單同比增長33.2%,TIDES在手訂單同比強勁增長147%。在特定商業化訂單影響逐漸消除的背景下,充足的新簽訂單能夠支撐公司未來的業績增長,同時,公司抓住新分子的發展機遇,驅動長期成長。根據可比公司,該行認為目前公司的合理估值水平為2024年的21倍市盈率,對應目標價為67.62元,給予“買入”評級。

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