Nomura raised its target price for WuXi AppTec (02359.HK) to HK$235.9 from
HK$209.99 and reaffirmed a Buy rating after the company posted
stronger-than-expected Q3 results. Revenue rose 38% YoY to RMB16.6bln (market
est. RMB15.5bln) and recurring profit rose 50% YoY. End-period backlog increased
36% YoY. Growth was driven by the D&M segment (+55% YoY to RMB8.6bln) and TIDES
(+52% YoY to RMB4.3bln).