Bank of America Securities: Reiterates Buy Rating on Hutchison China MediTech (02367.HK) and Raises Target Price to HK$92.7

According to the Zhitong Finance and Economics APP, Bank of America Securities released a research report stating that based on JuZi Biotech's (02367.HK) strong pre-sale performance during the 618 shopping festival and the increase in Collgene brand awareness, the bank has raised its forecasts for online sales and Collgene sales in 2025. The bank has raised its total sales forecasts for 2025/26/27 by 0.3%/0.5%/1.2% respectively. Due to an increase in online sales contribution, the bank has slightly adjusted its gross margin forecasts. Overall, the bank has raised its expected earnings per share (EPS) for 2025/26/27 by 0.2%/0.5%/1.0%. The bank has raised its target price based on Discounted Cash Flow (DCF) model from 89 Hong Kong dollars to 92.7 Hong Kong dollars. Considering its strong growth in online sales and the potential approval of injectable medical beauty products, the bank reiterates its buy rating.