Daiwa: Raises WuXi AppTec's (02359.HK) target price to HKD 230, reiterates industry preference.

Zhitong Finance APP learned that Daiwa issued a research report stating that the U.S. District Court for the District of Columbia has issued a preliminary injunction preventing the U.S. Department of Defense from listing WuXi AppTec (02359.HK) on the 1260H list. This protects the company from the negative consequences of being erroneously placed on the 1260H list during the litigation period, raising the target price-to-earnings ratio from 20 times to 21.5 times, and increasing the target price from HKD 215 to HKD 230. The firm believes that this preliminary injunction is a timely first step in the process of delisting WuXi AppTec from the 1260H list and represents an initial victory for the company in the legal proceedings, maintaining a "Buy" rating and reiterating it as the industrys top pick.