Goldman Sachs: Raises Wuxi Apptec target price to HK$74.9, raises 2025-2027 net profit forecast.

Goldman Sachs released a research report stating that WuXi AppTec had a strong performance in the first quarter of this year, and the management team maintained its guidance for the fiscal year 2025, which is in line with the bank's expectations. They believe that if the company continues to perform strongly in the next 1 to 2 quarters, there is room for the company to raise its guidance in the second half of the year. The bank expects the company's TIDES business to grow by 65% this year, and they have raised their revenue forecasts for TIDES in each year from 2025 to 2027 by 3.1%, 5%, and 5% respectively. They have also increased their net profit forecasts for the years 2025 to 2027 by 7%, 3.5%, and 2.3% respectively, to reflect better-than-expected performance in the TIDES business and delivery of small molecule research and manufacturing. The H-share target price has been raised from 70.9 Hong Kong dollars to 74.9 Hong Kong dollars, and the bank maintains a "neutral" rating.