Morgan Stanley has issued a research report stating that following the release of WUXI APPTEC's (02359) 2025 results, it has raised its earnings forecasts for the company for the years 2026 to 2030 by 2% to 6%. This adjustment reflects anticipated revenue growth and improved gross margin expectations. The firm maintained its "Overweight" rating and increased the target price from HK$143.5 to HK$145. The report highlighted that WUXI APPTEC's CRDMO/CTDMO business model and platform advantages, combined with having the largest number of early-stage projects among mainland competitors, provide stronger visibility for medium- to long-term growth. Morgan Stanley forecasts an adjusted non-IFRS earnings compound annual growth rate of 13% for the period from 2025 to 2028.
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