Core Viewpoint - Since January 20, WuXi Biologics (02269) has outperformed its mainland CRO peers and the overall healthcare sector, indicating its relative resilience in the market [1] Group 1: Company Performance - WuXi Biologics has shown better stock performance compared to mainland CRO peers and the broader healthcare sector since January 20 [1] - The company benefits from a more diversified shareholder structure, which helps mitigate geopolitical risk impacts [1] Group 2: Growth Potential - There is an increased visibility for accelerated growth before 2026, suggesting that the company's potential performance may exceed current expectations [1] - As peers in the industry are expected to miss profit expectations in Q4 2025, capital is likely to flow back to WuXi Biologics [1] Group 3: Market Position and Valuation - WuXi Biologics remains the preferred stock in the mainland CRO/CDMO sector according to the report [1] - The company's valuation is at a discount compared to global peers, indicating potential for upward adjustment [1] - The target price for WuXi Biologics is set at 48.5 yuan, with a rating of outperforming the market [1]
里昂：维持药明生物(02269)跑赢大市评级 增长加速能见度提升