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02500 VENUS MEDTECH-B
RTNominal unchange5.620 0.000 (0.000%)
Research Report

06/05/2020 17:16

{I-bank focus}CS lifts Venus Medtech (02500) to HK$62.64

[ET Net News Agency, 6 May 2020] Credit Suisse lifted its target price for Venus
Medtech (02500) to HK$62.64 from HK$53.2 and maintained its "outperform" rating.
On 2 May, Venus announced a strategic partnership with Opus Medical Therapies to develop
TMVR/TTVR products in Greater China. The research house thinks that the TMVR/TTVR markets
are blue sea markets (2x patient base as TAVR) and the partnership further strengthens
Venus' position in TMVR/TTVR R&D development.
Credit Suisse increased its success rate for TMVR/TTVR products by 2% and thus increased
success rate adjusted revenue contribution by Rmb200mn/Rmb230mn to Rmb700mn/Rmb810mn in
FY2025/26.
Credit Suisse also lifted its FY2020/21 earnings forecasts by 1.6%/1.0% due to faster
approval timeline of VenusA-Plus. (KL)

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