Quote | Super Quote
Super Quote   |   Detail Quote   |   Interactive Chart   |   Real-Time Chart   |   Transaction   |   Related News   |   Related Securities   |   Company Information   |   Dividend Records   |   Short Sell
RTNominal down4.550 -0.220 (-4.612%)

16/04/2020 10:25

{I-bank focus}Goldman cuts CR Pharma (03320) to HK$6.3

[ET Net News Agency, 16 April 2020] Goldman Sachs lowered its target price for China
Resources Pharmaceuticals (03320) to HK$6.3 from HK$6.5 and maintained its "buy" rating.
The research house sees challenges ahead in 2020 for CR Pharma, given (1) the COVID-19
impact in 1H for both manufacturing and distribution business, (2) persistent sales
pressure on Dong-E-E-Jiao (DEEJ)(Shenzhen code: 000423), with channel destocking to
potentially last until 3Q, and (3) pipeline drugs still in an early stage of clinical
However, looking beyond the virus impact, Goldman expects growth resilience in CR
Pharma's distribution and manufacturing (+20% in 2019 excluding E-Jiao), with potential
upside from M&A.
It revised down its 2020/21 EPS forecasts by 25%/28% to factor in (1) extended sales
destocking of DEEJ, which results in gradual sales recovery in 2021, (2) COVID-19 impact
in 1H with major impact in manufacturing business, especially OTC drug sales (3) higher
finance cost. (KL)

Remark: Real time quote last updated: 16/07/2020 17:58
  Real-time basic market prices of Hong Kong securities are provided by HKEx; a Designated Website authorized by the HKEx Group to provide the Service
A Member of HKET Holdings
Customer Service Hotline:(852) 2880 7004     Customer Service Email:cs@etnet.com.hk
Copyright 2020 ET Net Limited. http://www.etnet.com.hk ET Net Limited, HKEx Information Services Limited, its Holding Companies and/or any Subsidiaries of such holding companies, and Third Party Information Providers endeavour to ensure the availability, completeness, timeliness, accuracy and reliability of the information provided but do not guarantee its availability, completeness, timeliness, accuracy or reliability and accept no liability (whether in tort or contract or otherwise) any loss or damage arising directly or indirectly from any inaccuracies, interruption, incompleteness, delay, omissions, or any decision made or action taken by you or any third party in reliance upon the information provided. The quotes, charts, commentaries and buy/sell ratings on this website should be used as references only with your own discretion. ET Net Limited is not soliciting any subscriber or site visitor to execute any trade. Any trades executed following the commentaries and buy/sell ratings on this website are taken at your own risk for your own account.