CLSA: Reiterates Wuxi AppTec (02359.HK) "Outperform" rating, target price HK$262

Zhitong Finance APP has learned that CLSA issued a research report reiterating a "Outperform" rating on WuXi AppTec (02359.HK) with a target price of HK$262. The bank noted that the company's third-quarter results were in line with expectations, with revenue from continuing operations up 43% year-on-year, net profit up 136% year-on-year, and adjusted non-IFRS net profit up 61% year-on-year. In the first nine months of this year, the company's total order backlog grew 36% year-on-year, becoming the main highlight that exceeded market expectations.