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<Research>BofAS Raises WUXI BIO's TP to HKD41.8 on Expectations of Rapid Biz Growth
Recommend 6 Positive 9 Negative 2 |
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Last year, WUXI BIO (02269.HK) added 209 integrated projects, an increase of 38% YoY, with two-thirds being in complex models (bispecific and multispecific antibodies as well as antibody-drug conjugates) and about half originating from US clients, according to a research report by BofA Securities. The company also secured 23 projects last year, including 6 late-stage projects, with around half from US clients and over 50% in complex models. To reflect WUXI BIO's rapid development in the R&D and production stages last year, and considering the high growth visibility of its CMO business, BofA Securities has raised its 2025-27 revenue forecasts for the company by 1%/ 5%/ 8%. BofA Securities has lifted its target price for WUXI BIO from HKD35 to HKD41.8 and reiterated a Neutral rating, given that its in-line business development and solid leading position are offset by potential geopolitical risks from the US Biosecure Act. AAStocks Financial News |
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