CMBI: Raises Joinn Laboratories (06127) Target Price to HK$30, Maintains "Buy" Rating

CMBI issued a research report stating that it has raised the DCF-based target price for Joinn Laboratories (06127) from HK$8.57 to HK$30, maintaining a "Buy" rating. The company's third-quarter results showed a significant acceleration in growth. The bank expects Joinn Laboratories' adjusted net profit to turn positive to RMB45 million in 2026, and to grow by 635.1% and 58.5% year-on-year in 2027 and 2028, respectively, corresponding to adjusted P/E ratios of 331.7x, 45.1x, and 28.5x at the current share price.