UBS: Downgraded the target price of Guangzhou Huadu Medical (00013.HK) to HKD 29.5, maintaining a "Buy" rating.

According to information from the Zhitong Finance APP, UBS has released a research report stating that Hutchison China MediTech (00013.HK) reported a year-on-year revenue increase of 0.2% in the first half, which is roughly in line with the bank's expectations. Revenue from oncology and immunology businesses grew by 13% year-on-year, surpassing the banks forecast; net profit was $15.9 million, compared to $455 million for the same period last year, primarily due to the recognition of a one-time gain from the sale of its Shanghai pharmaceuticals joint venture in the previous year. The bank has postponed AstraZeneca's milestone to 2027 and revised its expense forecasts, resulting in a downward adjustment of the earnings per share estimate for 2026, while the forecast for 2027 has been raised from 6 cents to 8 cents. The bank has lowered its target price for the company from HKD 29.7 to HKD 29.5 and maintained a "Buy" rating.