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)
Popular Posts
-
Google url shortener service, goo.gl , is now much improved with newly included features like easier copy and paste, and ability to delete e...
-
I would like to apologize that sigining of my guestbook is not possible at the moment due to an unexpected bug. There is already 74 entries ...
-
As of today, Google will start using a new shortened url - g.co , to promote Google websites. g.co works differently as compared to a long-t...
-
Terms Of Use By downloading or using the app, these terms will automatically apply to you – please read them carefully before using the app....
No comments:
Post a Comment
Do provide your constructive comment. I appreciate that.