[ET Net News Agency, 21 January 2020] Citi Research lowered its target price for
Shanghai Pharmaceuticals (02607) to HK$18 from HK$22 and maintained its "buy" rating.
The research house said Shanghai Pharma in 2019 approved the grant of an aggregate of
25.68 million share options to management. Citi believes the share option scheme should
better align management's interests to the company's financial performance, which should
be positive for long-term stable growth.
Citi fine-tuned its model to reflect the latest business trends. (KL)