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Live Stock News: Market Climbs Back From Tech Pit, Awaits Prodigal Semi Son to Report
Bank of America, BlackRock Drop DEI References in Annual Reports
Morgan Stanley: Assigns CSPC PHARMA a 'Shareholding' rating with a Target Price of 6.8 HKD.
Morgan Stanley released a Research Report stating a "Shareholding" rating for CSPC PHARMA (01093), with a Target Price of 6.8 HKD. The group previously issued a profit warning, indicating that fourth-quarter sales are expected to decline by 16% year-on-year to approximately 6.56 billion RMB, which aligns with the bank's expectation of 6.76 billion RMB. However, the preliminary net profit may drop by 63% to about 0.568 billion RMB, which is below the bank's expectation of 0.811 billion RMB. The bank indicated that due to the decline in traditional Pharmaceutical prices in the centralized procurement (VBPs) channel, investors have largely anticipated a drop in profits, so they believe this profit warning will have a minimal impact on the stock price. On a positive note, the management is early.
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Express News | Exclusive-China's CICC Is Set to Merge With Galaxy Securities to Create Third-Largest Brokerage, Say Sources
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