招银国际：升石药集团目标价至10.08港元 维持“买入”评级

Group 1 - The core viewpoint is that CMB International believes that the BD transactions of CSPC Pharmaceutical Group (01093.HK) will be a key sustainable driver for profit growth [1] - The company anticipates that three potential large BD transactions will positively contribute in the short term, leading to a projected revenue growth of 5.8% and a net profit growth of 30.4% for the year 2025 [1] - CMB International has raised the target price for CSPC Pharmaceutical Group from HKD 5.71 to HKD 10.08 while maintaining a "Buy" rating [1]