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RTNominal down7.840 -0.260 (-3.210%)
Research Report

03/12/2020 10:55

{I-bank focus}MacQ trims Sino Biopharm (01177) to HK$8.39

[ET Net News Agency, 3 December 2020] Macquarie trimmed its target price for Sino
Biopharmaceutical (01177) to HK$8.39 from HK$9.52 and retained its "neutral" rating.
The research house noted that management has not provided guidance for 2020 throughout
the year and, with just one month left, the chance of a meaningful recovery is close to
Macquarie's estimates continue to be among the lowest on the street, projecting flattish
full-year revenue and earnings growth. These already imply a 14% jump in revenue and 50%
for core earnings for 4Q, which was usually the weakest quarter of the year. Thus, there
may be further downside risks. (KL)

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