share_log

野村:维持国药控股(01099)“买入”评级 目标价降至33.31港元

Nomura: Maintaining the “buy” rating of Sinopharm Holdings (01099), the target price dropped to HK$33.31

Zhitong Finance ·  10/24/2023 14:34

The Zhitong Finance App learned that Nomura released a research report saying that maintaining the “buy” rating of Sinopharm Holdings (01099) was slightly lowered by 1.9%/1.7%, which is 4.2%/1.7% lower than market expectations, 4.2% and 4% lower than market expectations, to reflect the increase in gross margin pressure brought about by volume procurement (VBP) of pharmaceuticals and medical equipment (VBP) in the second half of this year and beyond. The target price dropped from HK$36.28 to HK$33.31.

The bank said it is still optimistic that the company will achieve a leading position with growth above the industry average, and believes it is betting on an alternative investment target for the growing mainland healthcare industry. It is also believed that the current anti-corruption campaign in the mainland is affecting the growth of Sinopharm in the third quarter, while in the same period last year, the base figure is high due to high demand for products related to epidemic prevention. It is expected that its revenue for the third quarter will reach 152 billion yuan, an increase of 5% over the previous year, and a decrease of 2% from quarter to quarter; it is estimated that the company's revenue for the first nine months increased 11% year on year to 453 billion yuan. It is also estimated that the company's net profit for the third quarter will reach 2.2 billion yuan, an increase of 4% over the previous year, and the net profit for the first nine months will reach 6.35 billion yuan.

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
    Write a comment