Group 1 - Morgan Stanley's research report indicates that WuXi AppTec's valuation levels are attractive amid a stable fundamental backdrop, with a particular focus on WuXi Biologics [1] - The report highlights that WuXi Biologics has raised its earnings guidance and is undergoing significant capacity expansion, with high participation in the next-generation GLP-1 sector [1] - The firm has upgraded earnings forecasts for WuXi Biologics for 2025 to 2027 by 6% to 13%, and for WuXi AppTec by 3% to 4%, designating WuXi AppTec as a top pick [1] Group 2 - The compound annual growth rates for the three companies from 2024 to 2027 are projected at 24%, 23%, and 37% respectively [1] - Other major banks, including Oriental Securities and Goldman Sachs, have also maintained positive ratings on WuXi AppTec and WuXi Biologics, citing strong performance and robust customer demand [2] - Goldman Sachs set a target price of HKD 63.3 for WuXi AppTec, reflecting confidence in the company's order momentum and customer demand [2]