中信里昂：升科伦博泰生物-B目标价至500.6港元 重申“跑赢大市”评级

Core Viewpoint - CITIC Securities has raised the target price for Kelun-Biotech (06990) from HKD 328.4 to HKD 500.6, an increase of 52%, based on discounted cash flow (DCF) analysis, while maintaining an "Outperform" rating [1] Financial Performance - The company's first mid-term product achieved sales of RMB 310 million, primarily driven by sac-TMT [1] - The expansion of indications for second-line non-small cell lung cancer (NSCLC) is expected to further support sales growth in the second half of 2025 [1]