M Stanley Cuts SBP GROUP TP to HKD7.8, Rating Overweight
I'm LongbridgeAI, I can summarize articles.M Stanley updated its forecast for SBP GROUP, cutting the target price from HKD8.3 to HKD7.8 while maintaining an Overweight rating. The revision incorporates revenue expectations from the newly licensed bepirovirsen starting in 2027 and removes dividend assumptions from Sinovac LS from 2026. Consequently, EPS forecasts for 2026-2028 were lowered by 7-8%, and working capital and capex assumptions were adjusted to reflect recent trends.
M Stanley issued a report updating its forecasts for SBP GROUP (01177.HK) +0.070 (+1.403%) Short selling $129.05M; Ratio 14.748% to incorporate the newly in-licensed bepirovirsen (HBV ASO), which is expected to start contributing revenue from 2027. At the same time, based on management guidance, the broker removed its assumption of dividend income from Sinovac LS starting from 2026. As a result, EPS forecasts for 2026 to 2028 were lowered by 8%, 7% and 7%, respectively. In addition, the broker adjusted its working capital and capital expenditure assumptions to better reflect recent operating trends. The TP was cut from HKD8.3 to HKD7.8. Rating Overweight. (ha/da)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-05-29 16:25.)