BUZZ-China's WuXi Apptec jumps as broker lifts target price

Reuters
25 Oct 2024

** Hong Kong shares of WuXi Apptec jump 6% to HK$52.95, their highest since Oct. 15

** Stock is the fifth biggest pct gainer in Hang Seng Index

and Hang Seng Commerce & Industry Index , up 1.1% and 1.4%, respectively

** Nomura maintains "buy"; raises TP of Hong Kong stock to HK$63.12 from HK$43.45, and Shanghai shares to 63.82 yuan from 57.73 yuan

** Says improving sentiment with 3Q24F growth to further accelerate on non-covid basis

** Adds, it slightly lifts FY24F/25F revenue estimates and earnings forecasts to reflect a stronger growth outlook for its chemistry segment, which is expected to offset the softening growth of its other segments

** Shanghai shares rise 5.3% to 52.8 yuan, highest since Oct. 11

** In China, the blue-chip CSI 300 Index gains 1.2% and the Shanghai Composite Index adds 0.8%

** Hong Kong shares fell 37.1% YTD, Shanghai-listed stock down 31.1% YTD

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10