[ET Net News Agency, 1 November 2019] Huatai Research lifted its target price for CSPC
Pharmaceutical (01093) to HK$24.84 from HK$19.32 and maintained its "buy" rating, given
the faster/broader-than-expected innovative pipeline layout.
CSPC held an investor conference in Shanghai on 30 October to share its most recent R&D
achievements. The research house cited management saying (1) over 70 new products are
expected to launch during 2019-2022, and (2) 15-20 blockbusters with peak sales of RMB1bn
are in the pipeline within five years.
Given that CSPC maintains guidance for its key segments/products (eg, NBP and oncology
franchise), Huatai kept its 2019/20/21 EPS unchanged at RMB0.64/0.81/0.96. (KL)