UBS: Lowered target price of GIANT BIOGENE (02367) to 80.6 Hong Kong dollars, maintains "buy" rating.

UBS released a research report stating that GIANT BIOGENE (02367) 2024 financial performance is basically in line with the bank's forecast, but the profit margin is slightly lower than expected. UBS expressed optimism about GIANT BIOGENE's sales growth, but due to challenges in the operating environment and changes in product or channel combinations, the company's profit margin performance has become more conservative. The bank has lowered its target price for GIANT BIOGENE from HK$82 to HK$80.6 and believes that the stock has upside potential, mainly considering the estimated compound annual growth rates of sales and profits for the fiscal years 2024 to 2026 are 32% and 22% respectively. UBS maintains a "buy" rating.