大行评级丨大华继显：上调百济神州H股目标价至252港元 维持“买入”评级

Core Insights - BeiGene's Q3 revenue increased by 43.3% year-on-year to $3.8 billion, with adjusted net profit of $693 million, exceeding both the bank's and market expectations [1] - The company raised its revenue guidance for 2025 while slightly lowering its cost forecast [1] - Strong sales outlook for BRUKINSA and improved operational efficiency are expected to drive robust profit and cash flow growth [1] - Efficient R&D progress is anticipated to support sustainable long-term growth through future product launches [1] - The bank maintains a "Buy" rating on the stock, raising the target price for H-shares from HKD 240 to HKD 252 [1]