Movement Alert｜WuXi AppTec Rises 3.21% in Regular Trading, Daiwa Sharply Raises Target Price to HK$190 and Names It Top CXO Pick

Market Focus07-09

On July 9, WuXi AppTec rose 3.21% in regular trading, trading at HK$151.2/share, with turnover of HK$165 million.

On the news front, Daiwa published 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 its top picks in the China CXO sector. The bank noted that Q1 continuing operations revenue grew 39.4% year-over-year, while adjusted non-IFRS net profit surged 71.7% YoY, both exceeding market expectations. The outperformance was 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 potential upward revisions to full-year guidance.

This marks the second major broker upgrade in recent weeks, following Morgan Stanley's earlier target price raise to HK$168 with a similar \"top pick\" designation, reflecting growing institutional consensus on WuXi AppTec's earnings 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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