[ET Net News Agency, 29 January 2021] Goldman Sachs lifted its target price for Wuxi
Biologics (02269) to HK$128.6 from HK$79.53 and reiterated its "buy" rating.
Wuxi issued a positive profit alert. The research house expects the strong growth
momentum to continue in 2021, following the trend of the strong pipeline and backlog built
in 3Q/4Q and the potential upside from covid-19 projects (US$700mn backlog as of 2020).
Goldman thinks 2021 will also become a pivotal year for the company, as it further
transitions from a global leading CDMO (contract development and manufacturing
organization) to a commercial CMO (contract manufacturing organization). It revised its
2020-22 earnings forecasts by 13%/11%/11% to reflect higher investment gains, stronger
pipeline and backlog growth, and the potential new revenue stream from covid-19 related
projects. (KL)
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02269 WUXI BIO
Nominal 
13.480 +0.740 (+5.808%) Research Report
29/01/2021 09:51
{I-bank focus}Goldman ups Wuxi Biologics (02269) to HK$128.6
| Remark: | Real time quote last updated: 26/04/2024 18:00 |
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