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<Research> JPM Raises WuXi AppTec (02359.HK) TP to HKD150, Maintains 'Overweight' Rating
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JPMorgan released a research report stating that WuXi AppTec (02359.HK) management has set this year's revenue guidance between RMB513 billion and RMB530 billion, which includes foreign exchange factors. The management revealed that the potential growth rate calculated at a constant exchange rate could reach approximately 22% to 26%. The order backlog from continuing operations increased by 28.8% year-on-year to RMB580 billion, with a growth of about 34% at constant exchange rates. JPMorgan mentioned that to meet strong demand, WuXi AppTec's management has guided this year's capital expenditure to be between RMB65 billion and RMB75 billion, an increase of RMB10 billion to RMB20 billion year-on-year. The firm stated that based on WuXi AppTec's guidance, it has raised the company's sales forecast for the fiscal years 2026 to 2028 by 4% to 5%, increased its gross margin forecast by 3 ppts, and raised its earnings forecast by 10% to 11%. The target price has been raised from HKD142 to HKD150, maintaining an 'Overweight' rating and listing it as a top industry pick. (sl/j) Auto-translated by third-party software This translation was auto-generated by third-party software. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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