0941 GMT - Wuxi Biologics gains a new bull in CGS International's Lily Wang, who likes its strong momentum. Subsidiary Wuxi XDC, which specializes in antibody-drug conjugate, could contribute a higher order volume share going forward, given its new facility starting up in 2026, she says in a note. Commercial projects should drive demand for antibody-drug conjugate manufacturing capacity, she adds. She notes other segments also show healthy growth, as Wuxi Biologics' 1H new order backlog excluding XDC was much higher than for 2H 2024. Wang raises her 2025-2027 revenue and profit forecasts for Wuxi Biologics to reflect XDC's top-line growth and overall higher margin estimates, respectively. CGS International raises its rating to add from hold and revises up its target to HK$35.79 from HK$25.06. Shares closed at HK$31.32. (megan.cheah@wsj.com)
(END) Dow Jones Newswires
August 21, 2025 05:41 ET (09:41 GMT)
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