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UBS analyst Chen Chen upgraded Wuxi Apptec from Neutral to Buy, raising the price target from HK$40.10 to HK$70.40, citing signs of recovery in the CRO sector and growth in revenue and backlog. Despite disappointing Q3 results, the outlook is bolstered by potential biopharma funding from recent Federal Reserve rate cuts and Chinese economic stimulus. UBS has also revised its revenue, margin, and EPS estimates for 2025-2028, reflecting a more optimistic financial forecast for the company.
UBS analyst Chen Chen upgraded Wuxi Apptec from Neutral to Buy, raising the price target from HK$40.10 to HK$70.40, citing signs of recovery in the CRO sector and improved revenue growth. Despite the company's Q3 2024 results missing estimates, the outlook is bolstered by potential economic stimulus in China and recent Federal Reserve rate cuts. UBS has also revised its revenue, margin, and EPS estimates for 2025-2028, reflecting a more favorable risk-return balance for investors.
Chen Chen
People
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ubs upgrades wuxi apptec as recovery prospects improve with china stimulus
10:12 01.11.2024
ubs upgrades wuxi apptec to buy amid positive outlook for cro recovery
09:52 01.11.2024
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