UBS Global Research lifted slightly its target price for Luye Pharma Group (02186) to HK$7.8 from HK$7.66 and upgraded its rating to "buy" from "neutral" on low valuation.
The research house fine-tuned its 2019-21 EPS (diluted) forecasts by 4-7%
With differentiated labels from Nab-paclitaxel and room for normal paclitaxel and docetaxel (P&D) replacement, UBS thinks Lipusu (LPS) revenue growth could remain steady in 2019-20 and stay around Rmb2.3bn by 2024, despite competition from Nab-paclitaxel.
UBS expects the launch of new drugs in 2020-22 to offset a potential LPS decline over
the longer run.
15/10/2019 11:25
{I-bank focus}UBS upgrades Luye Pharma (02186) to HK$7.8
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