Bank of America Securities raises Shanghai Pharma's target price to 14 yuan, reiterates "Buy"
Bank of America Securities published a research report indicating that Shanghai Pharma (02607.HK) had a total revenue of RMB 283.6 billion last year, a year-on-year increase of 3%, which is roughly in line with the bank's expectations.
The bank stated that to reflect the overall pricing pressure faced by Shanghai Pharma's distribution and manufacturing businesses, it has lowered the company's sales forecasts for 2026 to 2028 by 2.7%, 5.8%, and 2.1%, respectively, and adjusted its profit margin forecasts. The bank raised the company's H-share target price from HKD 13.7 to HKD 14 and reiterated its "Buy" rating
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