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RTNominal down11.460 -0.260 (-2.218%)
Research Report

08/01/2021 11:47

{I-bank focus}HSBC lifts Fosun Int'l (00656) to HK$14.9

[ET Net News Agency, 8 January 2021] HSBC Global Research lifted its target price for
Fosun International (00656) to HK$14.9 from HK$13.6 and maintained its "buy" rating.
As the sole distributor of Pfizer/BioNTech's COVID-19 vaccine in Greater China, Fosun is
making more progress in the rollout, the research house said. Firstly, it will import 100m
doses from Germany in 2021. In later stages, Fosun expects to assemble in China or even
make the vaccine 100% locally.
In terms of distribution, Fosun has signed a vaccine supply agreement with the HK
government for 7.5m doses. HSBC expects a vaccine supply agreement with China government
could happen in 1H 2021 and serve as a near-term catalyst to the share price. (KL)

Remark: Real time quote last updated: 13/05/2021 17:59
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