[ET Net News Agency, 4 November 2019] UOB Kay Hian raised its target price for CSPC
Pharmaceutical (01093) to HK$24.7 from HK$18.8 and maintained its "buy" rating.
The research house said CSPC has built a strong pipeline and is transforming into an
innovative company. It targets to launch 12 innovative blockbusters in 2020-22. As the
company continues to expand sales force and penetrate into lower-tier markets, UOBKH
believes the earnings growth would remain steady and strong at over a 20% CAGR in 2019-21.
UOBKH raised its 2021 earnings growth assumptions slightly to reflect the stronger
growth potential. (KL)