Glonghui, August 28 | According to a research report published by Morgan Stanley, after Shanghai Pharmaceuticals announced its second-quarter results, it showed a decline in sales in the distribution and manufacturing business, a slight increase in gross margin, and a decline in operating expenses. As a result, Damo lowered the Group's 2024 and 25 profit forecasts by 9% and 3%, respectively, and raised its earnings estimates for 2026-30 by 2 to 12%. The bank raised the Group's target price from HK$17.5 to HK$18.4 and renewed the “Overweight” rating.
大行评级｜大摩：上调上海医药目标价至18.4港元 续予“增持”评级
Major rating|DBS: Upgrades sh pharma's target price to 18.4 Hong Kong dollars, reiterates "shareholding" rating.
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