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JPM: WUXI APPTEC Positive Profit Alert Beats; Mkt Likely to React Positively
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JP Morgan released a report on WUXI APPTEC (02359.HK), which recently issued a positive profit alert, forecasting a 16% YoY rise in sales to RMB45.5 billion by 2025, topping the broker's expectations by 2%. Adjusted net profit was expected to hike 41% YoY to RMB15 billion, 4% above the broker's forecast. The broker attributed the better-than-expected performance to persistent capacity and capability enhancements, production process optimization, and improved operational efficiency. The market is likely to react positively to the positive profit alert. Furthermore, although the positive profit alert did not provide specific details on gross profit or opex, the broker considered the company's adjusted net margin expansion to 33% as another positive surprise. It lately set a target price of HKD142 and an Overweight rating on WUXI APPTEC. AASTOCKS Financial News Website: www.aastocks.com |
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