The bank is lowering sales forecasts for the 2024/25 fiscal year by 4.8% and 6.7%, and profit forecasts by 9.7% and 10.1%, to consider factors where industry growth is slower than expected.
According to the Securities Times APP, Nomura released a research report stating that it has lowered sinopharm's (01099) target price from HK$30.33 to HK$28.46, a decrease of 6.2%. It is also forecasted that the company will resume positive growth in the third quarter of the 2024 fiscal year on a low base, maintaining a 'buy' rating.
The bank stated that it is lowering sinopharm's sales forecast for the 2024/25 fiscal year by 4.8% and 6.7%, and profit forecasts by 9.7% and 10.1%, to consider factors where industry growth is slower than expected. According to the bank's estimates, sales and profits in the third quarter of 2024 are expected to show low single-digit growth.