Phillip Securities lifts C&O Pharmaceutical (E92.SG) target price to $0.65 from $0.53, implying 13.7x FY11 P/E, after increasing FY11 earnings estimate by 8.6% to HK$175 million ($30.5 million) to assume stronger growth across all business segments, contributions from roll-out of new drugs, keeping Buy call, according to Dow Jones.
Phillip expects new drug Edaravone, used to aid neurological recovery, to be major earnings driver in coming years considering fewer than five manufacturers in China capable of producing it.
Broker notes market for this drug, which C&O expects to get regulatory approval for mass production by October, worth about RMB1 billion ($200 million) in 2009. Shares flat at $0.465.
Monday, August 30, 2010
C&O Pharma target raised to $0.65 by Phillip Securities
As reported at
Subscribe to:
Post Comments (Atom)
-
Google url shortener service, goo.gl , is now much improved with newly included features like easier copy and paste, and ability to delete e...
-
If you have been reading the mainstream media or the social media, it is likely that you would have heard of SimplyGo - an initiative by the... -
LinkScanner , which AVG launched as a free product, performs real-time scanning of webpages as users browse and blocks those pages that may ...
-
The below is LTA's official MRT map that includes both current and future train network. -
Installed FortiClient recently but the challenge in disabling the application/service from running automatically on every start-up annoyed m...
No comments:
Post a Comment
Do provide your constructive comment. I appreciate that.