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<Research>Citi Names WUXI APPTEC as Industry Top Pick w/ TP Raised to HKD156
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The management of WUXI APPTEC (02359.HK) clarified during the earnings call that this year's guidance for continuous operating income growth of 18-22% has already considered the impact of exchange rate fluctuations, according to a Citi research report. On a constant currency basis, the expected growth for this year's continuous operating income is 22-26%, an acceleration compared to the 21% growth in 2025. Citi considers the latest guidance conservative, and management is confident in achieving it. WUXI APPTEC's order backlog grew by 34% last year on a constant currency basis, and management indicated that about 70% of the backlog can be converted into revenue within 12 months, reflecting a shift towards later-stage projects. Citi has selected WUXI APPTEC as one of its top industry picks with a target price lifted from HKD142 to HKD156 and an unchanged Buy rating. AAStocks Financial News |
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