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<Research>JPM Predicts Continued Easing of US-CN Relations Beneficial for CN CXO Industry
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Stocks of China's CXO (Contract X Organization) industry, including WUXI APPTEC (02359.HK), WUXI XDC (02268.HK), and WUXI BIO (02269.HK), staged a strong rebound recently, according to JPMorgan's research report. The continued flagging performance of these stocks earlier might be attributable to market concerns that a more relaxed version of the US Biosecure Act might be passed along with the amendment of the 2026 National Defense Authorization Act currently under review by the US Congress. Their comeback on December 4 might reflect a relief from these concerns, though JPMorgan hasn't seen any updates on the National Defense Authorization Act. Overall, JPMorgan believes that the phone call between US President Donald Trump and Chinese President Xi Jinping on November 24, coupled with Trump's potential visit to China in April, will continue easing geopolitical tensions between the two countries, benefiting the development of China's CXO industry. JPMorgan set its target prices at HKD74 for WUXI XDC, HKD142 for WUXI APPTEC, and HKD37 for WUXI BIO, all rated as Overweight. AAStocks Financial News |
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