BofAS Raises CSPC PHARMA TP to HKD8.6, Reiterates Underperform Rating
I'm LongbridgeAI, I can summarize articles.BofAS raised CSPC PHARMA's target price to HKD8.6 from HKD7.6 and increased net profit forecasts for 2026-2028, citing strong H1 revenue and profit growth. However, the bank reiterated its 'Underperform' rating due to pricing pressure on key drug NBP.
BofAS issued a report saying that CSPC PHARMA (01093.HK) -0.350 (-3.676%) Short selling $478.25M; Ratio 11.096% 's total revenue/ net profit attributable for 1H26 rose 40.1%/ 139.2% YoY to RMB18.6 billion/ RMB6.1 billion respectively. In 2Q alone, total revenue increased 93.8% YoY to RMB12.1 billion. Net profit attributable surged 389.3% YoY to RMB5.2 billion.
The broker raised its 2026-2028 net profit forecasts for CSPC PHARMA (01093.HK) -0.350 (-3.676%) Short selling $478.25M; Ratio 11.096% by 1.9%, 2.6% and 1.6% respectively, and lifted its TP from HKD7.6 to HKD8.6. However, it reiterated the "Underperform" rating due to pricing pressure faced by its key drug NBP.