Damo cut Hapley's profit in 2024-30, which is expected to decline by 11%-12% due to declining sales and gross margins in the API and formulation divisions.
The Zhitong Finance App learned that Morgan Stanley released a research report stating that it lowered the target price of Hypri (09989) by 13% from HK$4.5 to HK$3.9, and that the rating would remain “in sync with the market.” Following the announcement of the preliminary profit announcement for 2023, Hapley's profit for 2024-30 was lowered, which is expected to decline by 11%-12% due to declining sales and gross margins in the API and formulation divisions. According to Damo, the target price for the most optimistic (most bullish) price for Hapley was reduced by 11.7% to HK$5.3; in addition, the target price for Hapley's most pessimistic (bear) was lowered by 11.1% to HK$2.4 from HK$2.7.