Bank of America Securities Lowers CSPC PHARMA (01093) Target Price to HK$8, Maintains "Underperform" Rating
Stock News
Yesterday
Bank of America Securities has released a research report indicating that CSPC PHARMA (01093) recorded a total revenue of CNY 26 billion last year, a decrease of 10.4% year-on-year. Net profit fell by 10.3% year-on-year to CNY 3.9 billion. The bank forecasts that the company's collaborative revenue will exceed CNY 10 billion this year. It has also adjusted its revenue forecasts for the company from this year to 2028, raising the 2024 estimate by 0.4% while lowering the 2025 and 2026 estimates by 4.1% each. Earnings per share forecasts for these years have been cut by 0.4%, 7.1%, and 22.3%, respectively. The target price has been reduced from HK$9.1 to HK$8, with an "Underperform" rating maintained.
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