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大摩:升石药(1093.HK)目标价至25港元 料未来受惠创新药管道
格隆汇 11-21 10:44

摩根士丹利发表报告表示,石药集团(01093.HK)今年第三季收入按年增长27%,胜该行预期,期内纯利亦符合预期,基于创新药管道加强及仿制药产能上升,决定上调对其目标价,由18港元升至25港元,此相当预测2020年市盈率30.2倍,此基於旗下创新药品销售於2018年至2021年预测复合增长率达34%,重申“增持”评级。

该行表示,上调对石药于2020年至2021年纯利预测1至4%,反映其上季业绩表现,指该股现股价仅相当於明年预测市盈率24倍,对比同业中生制药(01177.HK)的35倍,石药与同业的估值折让未来可望收窄。

大摩表示,石药指于2019年至2022年将推出12种创新药品及67种仿制药。该行料石药於2019年至2021年每股盈测分别为0.63元、0.76元及0.92元人民币。

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