Bank of America Securities: Upgrade of Junshi Biosciences (02367) target price to HKD 79.5, reiterating "buy" rating.

According to the Wisdom Financial APP, Bank of America Securities released a research report stating that Giant Bio (02367) performed slightly better than expected in the first half of the year, with a total revenue of 3.113 billion RMB, an increase of 22.5% year-on-year. Based on the performance in the first half of the year and the strong online performance in July, the bank raised the revenue forecast for the company's brand Comfy and increased the total revenue forecast for 2025 to 2027 by 1.9% each. In addition, due to the decrease in live streaming revenue contribution from Giant Bio, the sales expense ratio for 2025 was lowered; the earnings per share forecast for 2025 to 207 was raised by 2%, 1.7%, and 1.7% respectively. The target price was raised from HK$79 to HK$79.5, reiterating a "buy" rating, as the growth visibility of the recombined collagen protein product is high.