UBS: Innovation results are accelerating and reaping benefits. Raise the target price of Sinovac Biotech Ltd. (02096.HK) to 14.5 Hong Kong dollars and reiterate a "buy" rating.

According to the Wise News APP, UBS released a research report stating that the market has not fully reflected the research and development capabilities and sales potential of Sino Biopharmaceutical (02096.HK). Its innovative achievements are accelerating - two new drugs approved by 2024, two more added so far this year, and possibly four more approved by 2026 to 2027. The bank predicts that Sino Biopharmaceutical's revenue and adjusted net profit compound annual growth rates from 2024 to 2029 will reach 15.2% and 18.3% respectively. It reiterates a "buy" rating, with a target price raised from HK$10.4 to HK$14.5.