Morgan Stanley Adjusts Target Price for SBP GROUP, Maintains Positive Outlook

Stock News

06/01

Morgan Stanley has revised its financial forecasts for SBP GROUP (01177), incorporating the newly licensed drug bepirovirsen (HBV ASO) into its projections, with revenue contributions expected to commence from 2027.

The analysis also removes assumptions regarding dividend income from Sinovac LS starting in 2026, following updated management guidance.

Consequently, earnings per share estimates for 2026 through 2028 have been reduced by 8%, 7%, and 7%, respectively.

Additional adjustments were made to working capital and capital expenditure assumptions to better align with recent operational trends.

The firm has lowered its target price from HK$8.3 to HK$7.8 while reiterating its "Overweight" rating on the stock.

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