In a Monday report, lead analyst Edison Chen says Tianjin Zhongxin Pharma's stellar 4Q17 results are but only the beginning of a multi-year growth story for the group.
SINGAPORE (Apr 2): UOB Kay Hian is keeping Tianjin Zhongxin Pharmaceutical Group at “buy” with a higher target price of US$1.66 ($2.17), pegged to peer average of 14.1 times FY18 earnings.
This comes after Tianjin Zhongxin Pharma exceeded expectations in 4Q17 due to a net profit surge, bringing full-year PATMI to RMB473.3 million, 4.5% above UOB’s full-year forecast on higher 4Q blended gross margin after factoring in a price hike for the group’s key product, “Su Xiao Jiu Xin” pills.
