[ET Net News Agency, 17 September 2019] UBS Global Research lifted its target price for
Sino Biopharmaceutical (SBP)(01177) to HK$13.2 from HK$10.23 and maintained its "buy"
rating.
The research house raised its short-term earnings forecasts due to slower-than-expected
GPO (group purchase organization) expansion. UBS's revised pipeline forecasts as new GPO
rules allow up to three winners, leading to slower price cuts. It also raised its mid-term
ROIC forecast on positive signs of SBP becoming a more innovative company.
With the sales ramp-up of Anlotinib and intensive launch of new products, UBS is
positive on SBP's long-term growth. SBP is trading at 32x/28x 2019/20 PE versus Hengrui
(68x/54x) and Hansoh (49x/39x). (KL)
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01177 SINO BIOPHARM
Nominal 
2.790 +0.050 (+1.825%) Others
17/09/2019 18:01
{I-bank focus}UBS lifts Sino Biopharm (01177) to HK$13.2
| Remark: | Real time quote last updated: 26/04/2024 12:10 |
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