[ET Net News Agency, 1 September 2020] Morgan Stanley raised its target price for CSPC
Pharmaceutical Group (01093) to HK$20.5 from HK$18 and maintained its "overweight" rating
on robust oncology franchise, stable NBP, and undemanding valuation.
The research house raised its 2020-22 EPS forecasts by 2-5%, and more for outer years,
mainly on higher gross margins to reflect the trend observed and more new product launches
in the coming years.
Morgan noted that CSPC owns various R&D and technology platforms to support the launch
of two to three new drugs and 10+ generics annually in the next few years. The near-term
pipeline of 10+ new products will also drive earnings upside potential. (KL)
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01093 CSPC PHARMA
Nominal 
6.520 +0.300 (+4.823%) Research Report
01/09/2020 15:24
{I-bank focus}Morgan raises CSPC Pharma (01093) to HK$20.5
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