Citi: Raises Pharmaron target price to HKD 28.8, maintains "Outperform" rating

Citi released a research report stating that Pharmaron (03759) has raised its revenue growth guidance for 2025 from a year-on-year increase of 10% to 15% to 12% to 16%, and expects adjusted net profit under International Financial Reporting Standards to achieve double-digit growth. The bank believes that the upward guidance and increased order backlog for Pharmaron from the end of this year to next year are encouraging. Citi has raised its revenue and net profit forecasts for Pharmaron for 2025 to 2027, with the target price for H shares increased from HKD 24.7 to HKD 28.8, and the target price for A shares raised from RMB 34.8 to RMB 40.6, maintaining an "Outperform" rating