招商证券(香港):给予华润医药(03320.HK)“买入”评级 目标价8.80港元

同花顺金融研究中心   2023-02-22 16:17:36


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招商证券(香港)2月21日发布公告。We cut FY22E/23E earnings estimates by 5%/2% to reflect Omicrondisruption on distribution segment in 4Q22 partly offset by better-than-expected manufacturing segment. SOTP TP is revised up to HKD8.8from HKD8.5. Co. now trades at ~8x 23E PER, near the lowest quantile in its historical PER band. We believe Co. continues to be well-positionedto leverage its SOE strength to pursue more M&A and BD opportunities.

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