[ET Net News Agency, 29 January 2021] Morgan Stanley lifted its target price for WuXi
Biologics Cayman (02269) to HK$140 from HK$130 and maintained its "overweight" rating.
The research house increased its EPS estimates by 14%, 8%, and 8% for 2020, 2021, and
2022, respectively, following the company's positive profit alert for 2020 of earnings
growth of more than 65%.
Morgan said WuXi Biologics remains its top pick in 2021 on the rising trend of global
biologics outsourcing and 2x industry growth. It sees an adjusted net profit CAGR of 48%
in 2019-21, versus low teens for the industry. (KL)