[ET Net News Agency, 9 January 2018] UBS Global Research lifted its target price for
Luye Pharma Group (02186) to HK$7.43 from HK$5.5, and maintained its "buy" rating.
The research house raised its mid- and long-term growth estimates as it thinks with
reform policies consistently driving the pharma industry toward innovation, companies that
have engaged in R&D and innovation will benefit more in the long run.
It also incorporated the value of the two acquired biosimilar pipelines.
Trading at 16x 2018 PE, Luye is close to the two year mean. UBS think the current price
largely reflects the value of its existing business, while the pipeline value is not fully
considered due to the delay of overseas registration and future material R&D progress may
bring upside catalysts. (KL)
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02186 LUYE PHARMA
Nominal 
2.570 -0.050 (-1.908%) Others
09/01/2018 15:16
[I-bank focus]UBS lifts Luye Pharma (02186) to HK$7.43
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