[ET Net News Agency, 29 March 2021] Macquarie Research lifted its target price for
Shanghai Junshi Biosciences (01877) by 54% to HK$92.62 and maintained its "outperform"
rating.
The research house said there is a worrying trend of new daily cases going up quickly
for certain countries despite ongoing vaccination efforts. Macquarie believes that
masking and lockdowns are more effective than vaccines and antibodies in curbing the
pandemic. Spring break, as well as potentially relaxed measures post-vaccination, may
contribute to another resurgence, it added.
Junshi is the only China healthcare company with immediate and direct exposure to
COVID-19 treatment. Macquarie significantly increased its 2021/22 EPS forecasts by
1,451%/197%. (KL)