BOCOM International: Cuts Rongchang Biopharma (09995.HK) target price to HK$128, maintains "Buy" rating.

Zhitong Finance APP has learned that BOCOM International issued a research report stating that it has lowered the target price of RemeGen (09995.HK) to HK$128 and maintained a "Buy" rating. The bank significantly raised the company's 2026 outbound licensing revenue forecast and raised its 2026 revenue forecast, while lowering its 2027 to 2028 revenue forecasts, mainly reflecting the latest recognition pace of outbound licensing transaction revenue and adjustments made to product sales forecasts based on first- to third-quarter results. As the profit margin of the outbound licensing business is significantly higher than that of product sales, the upward revision to the revenue forecast for this business directly drove a substantial improvement in overall profit expectations.