Citi: WuXi AppTec (02359.HK) TIDES and backlog show strong growth; maintain "Buy" rating with target price of HK$215

Zhitong Finance APP has learned that Citi issued a research report stating it maintains a "Buy" rating on WuXi AppTec (02359.HK) with a target price of HK$215. The bank noted that the company's revenue for the first three quarters of this year was RMB 45.5 billion, a year-on-year increase of 39%, of which revenue from continuing operations increased by 46% year-on-year; net profit was RMB 19.4 billion, a year-on-year increase of 61%, and a year-on-year increase of 73% after excluding one-off items. Adjusted non-IFRS net profit increased by 74% year-on-year to RMB 18.4 billion.