On July 9, WuXi AppTec rose 3.21% in regular trading, trading at HK$151.2/share, with turnover of HK$165 million.

On the news front, Daiwa published a research report significantly raising WuXi AppTec's target price from HK$138 to HK$190, maintaining a \"Buy\" rating and naming it one of its top picks in the China CXO sector. The bank noted that Q1 continuing operations revenue grew 39.4% year-over-year, while adjusted non-IFRS net profit surged 71.7% YoY, both exceeding market expectations. The outperformance was primarily driven by small molecule CDMO business contributions and increased project deliveries. Daiwa raised its adjusted net profit forecasts for this year and next by 13.5% and 21.3% respectively, expressing confidence in potential upward revisions to full-year guidance.

This marks the second major broker upgrade in recent weeks, following Morgan Stanley's earlier target price raise to HK$168 with a similar \"top pick\" designation, reflecting growing institutional consensus on WuXi AppTec's earnings trajectory.

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