Gelonghui November 2 | According to a report published by CICC, the first three quarters of Sinopharm Holdings was in line with expectations. Considering the decline in hospital prescriptions, the bank lowered its earnings per share by 5.1% and 5.2% for 2023 and 2024, respectively, to $2.94 and $3.25. The current trading price of the stock is equivalent to forecasting a price-earnings ratio of 5.7 times and 5 times in 2023 and 2024, respectively. At the same time, due to the decline in the average valuation of the industry, the bank lowered the target price of H shares by 20.7% to HK$26, which is equivalent to predicting the price-earnings ratio of 7.9 times and 7 times in 2023 and 2024, respectively.
研报掘金｜中金：下调国药控股目标价至26港元 因行业平均估值下降
Research Report Nuggets | CICC: Lowering the target price of Sinopharm Holdings to HK$26 due to a decline in the average valuation of the industry
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