Nomura raises WuXi AppTec's target price to 132.8 yuan, reiterates "Buy" rating

AASTOCKS
2025.11.28 03:23

Nomura published a report stating that WuXi AppTec (02359.HK) has strong R&D capabilities that help it seize market opportunities, reiterating its "Buy" rating and raising the target price from HKD 130.63 to HKD 132.8.

Nomura slightly adjusted its revenue forecasts for WuXi AppTec for the fiscal years 2025 and 2026 by 0% and 1.5%, respectively, while lowering its profit forecasts by 5.5% and raising them by 0.7% to reflect the sale of its clinical CRO business in October 2025 and the reduction of its holdings in WuXi AppTec (02268.HK), as well as an upward adjustment in the revenue forecast for the TIDES business for the fiscal year 2026.

As of the end of September 2025, the company has undertaken a total of 3,430 projects (including 2,889 preclinical/I phase/II phase/III phase/commercialization stage projects, which is about three times that of 2021); the company's total order backlog reached RMB 59.88 billion, with new signed orders in the third quarter of 2025 increasing by 32% year-on-year to RMB 15.3 billion

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