Hutchison China MediTech Ltd. (HCM) PT Raised to $50 at Cantor Fitzgerald

July 28, 2021 3:29 PM EDT
Get Alerts HCM Hot Sheet
Price: $38.18 -1.93%

Rating Summary:
    9 Buy, 0 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 14 | Down: 8 | New: 24
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Cantor Fitzgerald analyst Louise Chen raised the price target on Hutchison China MediTech Ltd. (NASDAQ: HCM) to $50.00 (from $45.00) while maintaining an Overweight rating.

The analyst commented, "Post a solid as well as productive 1H21, we reiterate our Overweight (OW) rating and increase our 12-month PT to $50 from $45 before. The increase in our PT is driven by multiple expansion (forward EV/EBIT in DCF goes to 20x from 18x before). This is deserved because HCM's global commercialization efforts and pipeline expansion increase its earnings visibility in 2021 and beyond."

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