[ET Net News Agency, 22 July 2020] Goldman Sachs raised its target price for Sino
Biopharmaceutical (SBP)(01177) to HK$11.6 from HK$8.07 and maintained its "buy" rating.
The research house believes the market is recognizing SBP's positioning as a big pharma
stock set to consolidate and unlock the commercial value of its innovative assets.
After the sector rally in 1H, Goldman views SBP as one of the more defensive names for
2H 2020/2021 with its long-term investment thesis underpinned by (1) potential earnings
acceleration in 2021/22, with new product cycle led by PD-1/biosimilars and followed by 3
novel assets in pivotal phase 2/3 and 25+ in phase I; (2) GPO (group purchasing
organization) price cut overhang on key drugs removed; (3) positioning as a leading
commercial platform with strong cash position (Rmb16bn) for license-in/M&As. (KL)
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01177 SINO BIOPHARM
Nominal 
2.760 +0.020 (+0.730%) Research Report
22/07/2020 17:33
{I-bank focus}Goldman lifts Sino Biopharm (01177) to HK$11.6
| Remark: | Real time quote last updated: 26/04/2024 10:52 |
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