[ET Net News Agency, 5 May 2020] BOCOM Research lifted its target price for Fosun
Pharmaceutical (02196) to HK$34 from HK$32 and maintained its "buy" rating.
The research house said Fosun's lower-than-expected results were mainly due to: (1)
revenue declines for medical services and pharmaceutical segments due to the epidemic; (2)
29% fall in attributable net profit for associate company Sinopharm (01099); (3) continued
increase in R&D expenses.
BOCOM believes that the impact of the epidemic on the company's business has been mostly
reflected in 1Q, and expects a significant improvement in 2Q. It also believes Fosun has a
first-mover advantage in the upcoming fierce market competition for biosimilars, and the
recent global market demand for diagnostic kits and medical devices also brings new
opportunities. (KL)
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02196 FOSUN PHARMA
Nominal 
12.000 0.000 (0.000%) Research Report
05/05/2020 17:15
{I-bank focus}BOCOM lifts Fosun Pharma (02196) to HK$34
| Remark: | Real time quote last updated: 26/04/2024 08:11 |
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