CICC: Maintain Outperform Rating on Viva Biotech (02256) with a target price of HK$20, outperforming the industry.

According to the Zhixun Finance APP, CICC released a research report stating that it maintains its forecast for the return on net assets of Honley-B (02256) in 2025/2026 at 0.48 billion yuan/3.20 billion yuan. According to the DCF model, the bank maintains its outperform industry rating and target price of 20 HKD unchanged, with an upside potential of 48.8% compared to the current stock price. In 2026, it is recommended to pay attention to the progress of Pitmitinib's U.S. listing, the 2L registration clinical progress and 1L clinical plan of Ipagotinib, potential data readout opportunities for ABSK061 and ABSK043, and the development progress of early-stage molecules including ABSK131 and ABSK141.