Wuxi Biologics - Strategically Advantaged (BUY, TP HKD 125 [83], 16 pgs)
As many investors fret over Wuxi’s valuation, we show that there is scope for it to deliver considerable EPS upgrades which could lead it to continue to outperform its healthcare peers. We believe Wuxi has numerous strategic advantages which have resulted in a ~50% increase in our 2024 EBITDA forecasts over the last 18mths. We also show that Wuxi could be FCF positive by 2023 and this will allow it to reinvest without raising equity. We increase our PT to HKD 125 to reflect this but expect further increases as Wuxi finds new sources of revenue, but we caution on S-T gross margins.For access to the full note, please contact Naresh Chouhan ( )
Provided by our team of experienced analysts, our work is idea driven, based on independence of thought, sector expertise, and firmly focussed on fundamentals and valuation.
New Street Research is an independent, partner-owned, research firm specialising in equity and debt research. Our equity research embraces the following sectors:
- Pan European Telecom Services and Cable
- US Telecoms, Cable, Satellite and Towers
- Global Emerging Market Telecoms
- Japan Telecoms
- Asian Internet
- Pan European Healthcare
- Global healthcare thematic research
We provide debt research on:
- Pan European Telecom Services and Cable
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.