Goldman Sachs: Raises WuXi AppTec's target price to HKD 74.9 and increases net profit forecasts for 2025 to 2027.

Jin10 data, April 30 - Goldman Sachs released a research report indicating that WuXi AppTec (02359.HK) had strong performance in the first quarter of this year, and the management maintained its guidance for the fiscal year 2025, in line with the bank's expectations. They believe that if the strong performance continues in the next 1 to 2 quarters, the company has room to raise its guidance in the second half of the year. The bank expects the company's TIDES business to grow by 65% this year (official guidance growth of 60%), and has raised its TIDES revenue forecasts for each year from 2025 to 2027 by 3.1%, 5%, and 5%, respectively. The bank has also raised its net profit forecasts for the company for each year from 2025 to 2027 by 7%, 3.5%, and 2.3%, respectively, to reflect the better-than-expected performance of the TIDES business and the delivery of small molecule R&D and manufacturing, raising the H-share target price from HKD 70.9 to HKD 74.9, maintaining a "Neutral" rating.