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<Research>UBS Downgrades CSPC PHARMA/ KELUN PHARM to Neutral, Changes Sector Top Pick to HANSOH PHARMA
Recommend 15 Positive 25 Negative 13 |
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UBS released a research report remaining optimistic about the long-term potential of China's healthcare market. However, China's pharmaceutical sector has surged 64% YTD, driven by optimism over out-licensing agreements. Combined with the increased risk of potential US executive orders and rich valuations, it is expected that market focus will shift back to organic revenue/ profit growth. Due to weak fundamentals, the broker downgraded CSPC PHARMA (01093.HK) and KELUN PHARM (002422.SZ) to Neutral, and changed its industry top pick from 3SBIO (01530.HK) to HANSOH PHARMA (03692.HK) on its stable traditional business and innovative pipeline reserves. In terms of long-term pipeline potential, UBS believed that HENGRUI PHARMA (01276.HK) and HANSOH PHARMA are best positioned. AASTOCKS Financial News Website: www.aastocks.com |
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