高盛：降金斯瑞生物科技目标价至26.25港元 下调盈测

Core Viewpoint - Goldman Sachs reports that King's Ray Biotechnology (01548) has mixed performance in the first half of fiscal year 2025, with gross margins under pressure, but sales outside of Legend Biotech generally meet expectations [1] Group 1: Financial Performance - The management has slightly adjusted the guidance for the life sciences business in 2025 from 10% to 15% to 13% to 15%, expecting steady growth in this segment [1] - Goldman Sachs maintains a "Buy" rating for King's Ray, with a target price reduced from HKD 27.34 to HKD 26.25 [1] - Earnings per share forecasts for 2025 to 2027 have been revised down from USD 0.07, USD 0.05, and USD 0.10 to losses of USD 0.03, USD 0.01, and a profit of USD 0.03, reflecting pressure on profitability [1]