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Hutchison China MediTech upgraded to Buy with $18.50 price target

  • Daiwa upgraded Hutchison China MediTech Limited to Buy after its GSK licensing deal.
  • Daiwa set a new price target of $18.50 for HCM.
  • GSK received exclusive commercialization rights to HCM’s experimental cancer therapy.

Hutchison China MediTech Limited (HCM) received a Buy rating upgrade from Daiwa, which set a new price target of $18.50 after a major licensing deal with GSK. The agreement gives GSK exclusive rights to commercialize HCM’s experimental cancer therapy.

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