CITIC International raised the target price of WuXi Biologics to 39 yuan and maintained a "Buy" rating

CMB International published a research report indicating that WuXi Biologics (02269.HK) had a revenue growth of 16.7% year-on-year last year, with adjusted net profit increasing by 17.9% year-on-year, exceeding the bank's forecasts by 1.2% and 9.6%, respectively. According to preliminary guidance from management, revenue is expected to grow by 13% to 17% this year, and if excluding the potential impact of foreign exchange fluctuations, the growth rate is expected to be even higher.

The bank stated that the visibility of WuXi Biologics' growth has improved, raising the company's target price from HKD 35.6 to HKD 39, maintaining a "Buy" rating. The bank expects the company's revenue to grow by 14.6%, 16.3%, and 15% year-on-year from 2026 to 2028, while adjusted net profit is expected to increase by 18.7%, 17.4%, and 13.6% during the same period