Celltrion’s record quarter sparks target-price upgrades

Celltrion’s record second-quarter results have prompted a wave of target-price upgrades from Korean and global brokerages, with analysts highlighting its fast-growing portfolio and improving profitability. The Korean biopharmaceutical company reported quarterly sales of 1.4 trillion won ($990 million), beating market expectations and setting a record for the second consecutive quarter. Operating profit surged 86.3 percent on-year to 451.8 billion won, lifting its operating margin to 32.4 percent