Core Viewpoint - Citigroup has raised its earnings per share forecasts for WuXi AppTec (02359) for 2025 to 2027 by 3%, 6%, and 7% respectively, driven by margin expansion in the chemical business, a decrease in administrative expenses, and higher investment income [1] Group 1: Earnings Forecasts - WuXi AppTec's H-share target price has been increased from HKD 95 to HKD 130, while the A-share target price has been raised from CNY 88 to CNY 119 [1] - The management has revised its 2025 guidance, expecting revenue from continuing operations to reach CNY 42.5 billion to CNY 43.5 billion, representing a year-on-year growth of 13% to 17% [1] - The previous guidance was CNY 41.5 billion to CNY 43 billion, with a year-on-year growth of 10% to 15% [1] Group 2: Management Confidence - Management anticipates double-digit growth in revenue from continuing operations in the second half of 2025 compared to both year-on-year and the first half of the year [1] - The new guidance implies a year-on-year growth of 5% to 10% and a growth of 6% to 11% compared to the first half of the year [1] - Management has expressed confidence in further improving the adjusted net profit margin for 2025 [1]
花旗:升药明康德(02359)目标价至130港元 评级“买入”