HSBC: It is expected that the stock price of WuXi AppTec will rise in the next 30 days, with a target price of HK$155.

Morgan Stanley published a technical research report, believing that the stock price of WuXi AppTec will rise in the next 30 days, with an estimated probability of realization of about 70% to 80%. They gave WuXi AppTec an "overweight" rating for H-shares, with a target price of 155 Hong Kong dollars. The bank pointed out that WuXi AppTec's first-quarter continuous operating revenue increased by 39% year-on-year, while profits increased by 27% year-on-year, exceeding the bank's expectations by 15% to 20%, mainly driven by an 80% year-on-year growth in revenue from small molecule D&M business. In terms of leading indicators, there were 6 new long-term and large commercial contracts added in the first quarter, with order backlog increasing by 24% year-on-year to 60 billion yuan, and the guidance for TIDES business revenue growth for the whole year was raised to 40%. The bank believes that with the company's guidance for continuous operating revenue growth of 18% to 22% by 2026, there is a possibility of exceeding this range with this quarter's performance improvement.