Core Viewpoint - The report from Citi indicates that WuXi Biologics (02269) is expected to accelerate growth again between 2025 and 2027, with revenue forecasts raised by 0% to 4% and net profit forecasts increased by 0% to 7% [1] Group 1: Financial Projections - Gross margin is projected to improve from 28.5% in 2024 to 30.8% in 2027 [1] - The target price for the company has been raised from HKD 34.8 to HKD 42.6, maintaining an outperform rating [1] Group 2: Industry Insights - The profitability and valuation of the Contract Research Organization (CRO) industry are sensitive to changes in the funding environment [1] - A potential interest rate cut in the US in the second half of the year is expected to enhance market preference for the CRO sector [1] - Global biotech companies are anticipated to increase R&D investments in a more favorable funding environment, while pharmaceutical companies will also expand R&D spending to alleviate patent barrier pressures, benefiting WuXi Biologics [1]
里昂：升药明生物目标价至42.6港元 料重新加速增长