[ET Net News Agency, 30 September 2020] Morgan Stanley lowered its target price for
Sinopharm Group (01099) to HK$26.9 from HK$31.3 and maintained its "overweight" rating.
The research house cut its earnings forecasts for 2020-25 to reflect the pressures from
centralized procurement price cuts, and raised earnings for the years beyond that to
reflect revenue contribution from innovative drug distribution, medical equipment and
retail.
Morgan said Sinopharm is the top drug distributor by revenue in China with an unmatched
national scale. Its SOE status gives the company a distinct advantage over peers; it
is the only drug distributor owned by the central government, which provides a robust
safety net. (KL)
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01099 SINOPHARM
Nominal 
19.780 -0.060 (-0.302%) Research Report
30/09/2020 17:47
{I-bank focus}Morgan cuts Sinopharm Group (01099) to HK$26.9
| Remark: | Real time quote last updated: 18/04/2024 17:59 |
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