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UBS lifts 3SBio Inc (01530) to HK$14.98
UBS Global Research lifted its target price for 3SBio Inc (01530) to HK$14.98 from HK$12.22,
and maintained its "buy" rating.
  The research house said the price target hike reflects a newly-announced Contracted
Development and Manufacturing Organization (CDMO) acquisition and the new products added 
to its diabetes drugs portfolio.
  UBS believes there is still upside as potential profitability improvements for the 
diabetes and CDMO businesses have not been factored in. Trading at 23.5x 2018 PE, or 0.95x
PEG, the research house thinks the stock remains attractive versus its peers (1.2x PEG)
and given a historical mean of 24x PE, with prospects of faster earnings growth.

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