Positive outlook for Hutchison China MediTech, say analysts
Analysts at Panmure Gordon & Co say they remain buyers of Hutchison China MediTech (LSE: HCM), which is majority owned by China’s Chi-Med, following the strong performance in fiscal year2012, with the UK-based company’s shares appreciating some 31%.
Although they are not making any changes to forecasts at this stage, they note the good cash generation of the China health care business in first-half 2012 (some $15 million) and point to a number of possible earnings kickers in the next 18 months which may trigger upgrades, and have a share price target of £6.00.
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