UPDATE: Jefferies Initiates Coverage On China Biologic Products On Market Leader Position

In a report published Thursday, Jefferies analyst Jessica Li initiated coverage on

with a Buy rating and $52.00 price target. In the report, Jefferies noted, “CBPO is a leading fully integrated plasma-based supplier in China. In an industry with high entry barriers and limited competition, CBPO is expected to outgrow the market in the next 5 years, given its solid control of plasma supply, comprehensive product portfolio, robust pipeline, and potential M&A. Initiate coverage with BUY and US$52 PT.” China Biologic Products closed on Wednesday at $40.04.