BOCOM International: 3Q26 results accelerate further; maintain "Buy" rating on Pharmaron (03759) and keep it as a key sector recommendation.

Zhitong Finance APP has learned that BOCOM International issued a research report stating that it maintains a "Buy" rating and industry key recommendation for Pharmaron (03759). Based on strong order performance, the bank has raised its 2026-28 adjusted net profit forecasts by 1-6%. The bank maintains its H-share/A-share (300759.SH) target prices of HK$46.6/RMB64.1 and Buy ratings. Considering that the company is about to enter a key inflection point for the realization of the CRDMO model, as well as the currently highly attractive valuation level (the current Hong Kong stock price corresponds to 16x/0.5x 2027 P/E/PEG).