CMB International: Raising the target price of Medicinal Biotech (02269) to HK$60 to maintain a “buy” rating

The Zhitong Finance App learned that CMB International released a research report saying that Yao Ming Biotech (02269) had strong performance in the first half of the year, and the annual revenue growth guide was also raised to 15%-18%, raising the target price of Pharmaceutical Biotech from HK$39 to HK$60, maintaining a “buy” rating. The bank raised Yao Ming Biotech's performance forecast. In 2026, revenue is expected to increase 17.1% year on year, and adjusted net profit will increase 16.5% year on year to reflect the increased performance guidance and positive sector demand outlook.