CICC: Maintains HUTCHMED (00013.HK) target price of HK$28, rating "Outperform"

Zhitong Finance APP has learned that CICC issued a research report stating that Hutchison China MediTech (00013.HK) announced that the results of the global Phase III SAFFRON study were presented on October 26 at the Presidential Session of the European Society for Medical Oncology (ESMO) Annual Congress. Recently, the company announced that AstraZeneca has submitted a marketing application to the U.S. FDA for this indication. The bank maintains its 2026 and 2027 net profit attributable to parent forecasts of US$78 million and US$66 million, respectively, unchanged, and maintains its "Outperform" rating and HK$28 target price, implying 24.1% upside from the current share price.