Movement Alert｜WuXi AppTec Rises 3.09% in Regular Trading, Daiwa Raises Target Price to HK$190 and Names It Top CXO Pick

Market Focus07-10

On July 10, WuXi AppTec rose 3.09% in regular trading, trading at HK$152.4/share, with turnover of HK$76.92 million, extending gains for a second consecutive session.

On the news front, Daiwa recently issued a research report significantly raising WuXi AppTec's target price from HK$138 to HK$190, maintaining a \"Buy\" rating and naming it one of the top picks in China's CXO sector. The broker noted the company's Q1 continuing operations revenue grew 39.4% year-over-year, with adjusted non-IFRS net profit surging 71.7%, both exceeding market expectations, primarily driven by small-molecule CDMO business contributions and increased project deliveries. Daiwa raised its adjusted net profit forecasts for this year and next by 13.5% and 21.3% respectively, expressing confidence in a potential upward revision to full-year guidance.

Additionally, Morgan Stanley recently raised its H-share target price to HK$168, reaffirming WuXi AppTec as its top pick, while JPMorgan increased its holdings by approximately 2.37 million shares at around HK$155.71 per share, reflecting continued institutional confidence in the company's growth trajectory.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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