Nomura Upgrades Johnson Pharmaceuticals' Target Price by 2% to HK$18.36, Maintains Neutral Rating

Jinshi data news on February 26th, Nomura released a report, raising the target price of Johnson Pharmaceuticals (03692.HK) by 2% to 18.36 Hong Kong dollars from 17.95 Hong Kong dollars, reflecting a downside of 3.2%, maintaining a neutral rating. The bank expects a 0.5% decline in revenue in the second half of 2024, and profits to decrease by 35% annually. The bank has lowered its revenue and profit forecasts for the 2024 fiscal year by 0.6% and 4.2%, respectively, and raised its revenue and profit forecasts for the 2025 fiscal year by 4.5% and 1.8%, factors considered include the cooperation revenue from authorizing HS-10535 (oral GLP-1 asset) to MSD, and sales performance exceeding expectations.