[ET Net News Agency, 28 October 2019] Jefferies Research raised its target price for
Yichang HEC Changjiang Pharmaceutical (01558) to HK$54 from HK$53 and maintained its "buy"
rating.
The research house said HEC delivered strong revenue growth in 3Q, which typically was
low season. Jefferies believes the seasonality has been smoothed by prescription habit
changes and increasing penetration into lower-tier medical institutions.
Jefferies raised its 2019/20 net profit forecast by 22%/11%. (KL)