Citigroup said it raised Hanson Pharmaceuticals (03692)'s revenue forecasts for this year and next year by 8.6% and 2.7%, respectively, while earnings per share estimates were raised by 29.5% and 15.4%.
The Zhitong Finance App learned that Citi released a research report stating that it maintained the “buy” rating of Hanson Pharmaceuticals (03692) and raised the company's revenue forecasts for this year and next year by 8.6% and 2.7%, respectively, and the earnings per share estimate by 29.5% and 15.4%. The target price was raised from HK$25 to HK$28. The bank said the company's revenue rose 7.7% year on year to RMB 10.1 billion last year, and net profit rose 26.9% year on year to RMB 3.3 billion. Management expects revenue contributions from innovative drugs to increase to 70% this year, and targets double-digit sales growth this year.