G Sachs Cuts Sinopharm TP to HKD19.07, Expects Gradual Revenue Recovery in Coming Quarters
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G Sachs has reduced its target price for Sinopharmfrom HKD19.83 to HKD19.07, maintaining a Neutral rating. The company reported sales of approximately RMB140.4 billion in 1Q26, a slight YoY decline of 0.6%, which was below expectations due to ongoing industry pressures. However, G Sachs anticipates a gradual revenue recovery in the upcoming quarters, forecasting slight YoY sales increases for 2Q26, 3Q26, and 4Q26. The broker also lowered its earnings forecasts for Sinopharm for 2026 to 2028 by 3.8%, 4.6%, and 3.5%, respectively, citing a weaker recovery in sales growth.
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